Skip to main content Rates Continue Upward Trend and Rise to 3.68 Percent

May 22, 2013

Rates on the most popular types of mortgages moved upward, according to's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages rose by seven basis points (0.07 percent) to 3.68 percent. Conforming 5/1 Hybrid ARM rates increased by three basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 2.62 percent. "After reaching lows for the year just four weeks ago, and despite plenty of mixed economic signals, 30-year fixed mortgage rates have quickly moved back to near this year’s highs," said Keith Gumbinger, vice president of "Rising stock markets, with their promise of better returns, continue to draw investor money out of safe-haven investments such as bonds. Yields are increasing as a result, pulling mortgage rates along with them." Gumbinger adds "Even with upward and downward moves this year, mortgage rates remain near record lows, and that can be expected to continue until we get reliably solid growth, inflation begins to appear or the Fed begins tapering its support. None of those conditions seems imminent." Average mortgage rates and points for conforming residential mortgages for the week ending May 21, according to Conforming 30-year fixed-rate mortgage Average rate:   3.68 percent Average points: 0.27 Conforming 5/1-year adjustable-rate mortgage Average rate:   2.62 percent Average points: 0.20 Average mortgage rates and points for conforming residential mortgages for the previous week ending May 14 were, according to Conforming 30-year fixed-rate mortgage Average Rate:   3.61 percent Average Points: 0.26 Conforming 5/1-year adjustable-rate mortgage Average Rate:   2.59 percent Average Points: 0.19
About the author
May 22, 2013
123 Newrez Employees Laid Off In Florida and Colorado

WARN Notices were filed the day after Computershare Mortgage Services, SLS acquisition closed.

May 07, 2024
Ishbia Predicts A Rate Cut By Election Day

CEO of United Wholesale Mortgage shares 'personal perspective' in new YouTube video

May 03, 2024
Yield Curve, Schmield Curve?

The yield curve is a harbinger, not the be-all, end-all for lenders.

May 02, 2024
UWM, UMortgage Under Attack For Alleged Shell Scheme

A report released on April 25 by the hedge-funded media company alleges UWM set up a shell company, UMortgage.

Apr 25, 2024
More Questions Than Answers At Housing Finance Climate Summit

Government officials, housing leaders, and climate scientists meet to address climate change's escalating impact on housing.

Apr 22, 2024
Maximum Acceleration, Originator Connect Network Sign Exclusive CE Agreement

Pact gives OCN guaranteed live CE at shows, creates nationwide opportunity for Maximum Acceleration

Apr 17, 2024