Mortgage rates, delinquency rise again

Freddie Mac recently released its weekly Primary Mortgage Market Survey, which found mortgage rates showed slight growth.

The survey reported the 30-year fixed rate mortgages averaged 4.53 percent, an increase from 4.51 percent the week before, while the 15-year fixed rate mortgages averaged 3.66 percent, up from 3.65 percent the week before. The 5-year ARM averaged 3.27 percent, down from 3.29 the week before and the 1-year ARM averaged 2.97 percent, up from 2.95 percent the week prior.

Vice president and chief economist for Freddie Mac, Frank Nothaft, said the mortgage rates remained steady despite producer price index, consumer price index, and consumer sentiment all decreasing this week.

The most recent Mortgage Report from Lender Processing Services found mortgage delinquency rates increased 2.4 percent from May to June, and foreclosure inventory increased slightly as well. According to the report, the total United States loan delinquency rate is 8.15 percent, an increase from 7.96 in May, and the total foreclosure pre-sale inventory rate is 4.12 percent, a slight increase from 4.11 percent in May.  

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