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Mortgage Rates Take an Uptick

Mortgage rates were on the rise in Freddie Mac’s latest Primary Mortgage Market Survey (PMMS), which covered the week ending May 11.
The 30-year fixed-rate mortgage (FRM) averaged 4.05 percent, up from last week when it averaged 4.02 percent. The 15-year FRM this week averaged 3.29 percent, up from last week when it averaged 3.27 percent. And the five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.14 percent this week, up from last week when it averaged 3.13 percent.
In another mortgage data report, Bankrate.com found 30-year FRM at 4.22 percent, while the jumbo 30-year FRM came in at 4.16 percent, the average 15-year FRM was 3.44 percent, the five-year ARM reverting was 3.48 percent and the 10-year ARM was at 3.86 percent, the highest level since late March.

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