My Real Estate Blog

30-year fixed-rate mortgage averaged 5.05% with an average 0.7 point for the week ending February 10, 2011, up from last week when it averaged 4.81%. Last year at this time, the 30-year averaged 4.97%. Interest rates on a 30-year fixed-rate mortgage rose to the highest level since the last week in April 2010.  

5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.92% this week, with an average 0.6 point, up from last week when it averaged 3.69%. A year ago, the 5-year averaged 4.19%.

Long-term bond yields jumped on positive economic data reports, which placed upward pressure on mortgage rates this week. For all of 2010, non-farm productivity rose 3.6%, the most since 2002, while January’s unemployment rate unexpectedly fell from 9.4% to 9.0%. Moreover, the service industry expanded in January at the fastest pace since August 2005.