Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), which shows mortgage rates rising slightly for the fourth consecutive week, yet remaining below five percent moving into the traditional homebuying season. This week, the 30-year fixed-rate mortgage (FRM) averaged 4.91 percent with an average 0.6 point, up from last week when it averaged 4.87 percent. Last year at this time, the 30-year FRM averaged 5.07 percent. The 15-year FRM this week averaged 4.13 percent with an average 0.7 point, up from last week when it averaged 4.10 percent. A year ago at this time, the 15-year FRM averaged 4.40 percent. "Mortgage rates edged up following a light week of economic data releases," said Frank Nothaft, vice president and chief economist, Freddie Mac. "Although rates on 30-year fixed mortgages have risen four weeks in a row, they have remained below five percent for eight straight weeks now, helping to maintain affordability in the housing market. Meanwhile, consumer purchases of retail goods rose for the ninth consecutive month in March, suggesting families have an increasing capacity to spend, which bodes well for the economic recovery." The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.78 percent this week, with an average 0.6 point, up from last week when it averaged 3.72 percent. A year ago, the five-year ARM averaged 4.08 percent. The one-year Treasury-indexed ARM averaged 3.25 percent this week with an average 0.6 point, up from last week when it averaged 3.22 percent. At this time last year, the one-year ARM averaged 4.13 percent. "Reinforcing this notion, the Federal Reserve reported in its April 13th regional economic review that consumer spending picked up modestly in February and March across most Districts," said Nothaft. "In addition, it noted that economic activity generally continued to improve and that reports focusing on the near-term outlook were most often upbeat."