30-year-mortgage rate increases to 3.55%

WASHINGTON (MarketWatch) -- The 30-year fixed-rate mortgage average rose to 3.55% in the week ending Aug. 2 from a record low of 3.49% in the prior week, Freddie Mac said 

Thursday in its weekly report. The rate was 4.39% a year earlier, according to Freddie, a buyer of residential mortgages.

"Recent announcements of additional debt relief for the euro zone and mixed domestic economic indicators added upward pressure on Treasury yields as well as mortgage rates this week," said Frank Nothaft, chief economist.

Meanwhile, the 15-year fixed-rate mortgage rose to 2.83% in the latest week from a record low of 2.80% in the prior week.

The average rate on the 5-year Treasury-indexed hybrid adjustable-rate mortgage ticked higher to 2.75% from 2.74%. The 1-year Treasury-indexed ARM declined to 2.70% from 2.71%.

The views, opinions, positions or strategies expressed by the authors and those providing comments or external internet links are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of First Capital, we make no representations as to accuracy, completeness, current, suitability, or validity of this information and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. Any information provided does not constitute an offer or a solicitation to lend. Providing information to purchase does not guarantee a loan approval. All registered trademarks, copyright, images, or other items used are property of their respective owner and are used for editorial purposes only.

First Capital Mortgage is a subsidiary of PHH Home Loans LLC, a direct lender, Dept. of Corporations file #413-0713 NMLS#4256

Visit FirstCapital Online or call: 310-458-0010