Washington, DC, April 6, 2006-- The benchmark 30-year fixed rate mortgage average rose in the week ending Thursday, to 6.43% from 6.35%, said Freddie Mac.
The mortgage agency said its weekly survey showed the 15-year loan also increased, to 6.1% from 6%. The 1-year Treasury-indexed adjustable rate rose to 5.57% from 5.51%. The 5-year hybrid ARM increased as well, to 6.11% from 6.02%.
"In the first quarter of 2006, it appears that economic growth picked up relative to the last three months of 2005," Frank Nothaft, Freddie Mac chief economist, in a statement. "There is concern that the continued high level of energy cost may lead to inflation in other sectors of the economy. And fear of inflation leads to higher mortgage rates, like the ones we see this week."
