From THE ORANGE COUNTY REGISTER – Jonathan Lansner & Jeff Collins:
RATE NEWS SUMMARY: From Freddie Mac’s weekly survey there is a time gap that doesn’t always tell the full story. The past few days rates have spiked as you will read further down. The Freddie survey that I report to you for this week is a result of last week’s rates. The average 30-year fixed rose to 3.92 percent and .8 point from last week’s 3.88 percent according to Freddie Mac’s survey. The 15-year fixed rate loan also rose, averaging 3.16 percent and .8 point, up 3 basis points from last week’s survey. Each basis point is .01 percent. As an illustration, last week’s 15-year fixed was 3.13 percent. The 5-year ARM rose to 2.83 percent, 2 basis points higher from last week’s 2.81 percent.
