The Truth About Mortgage.com

Mortgage rates rose for the third straight week after hitting record lows, according to mortgage financier Freddie Mac.

The uber-popular 30-year fixed averaged 5.05 percent during the week ending December 24, up from 4.94 percent a week ago, but still slightly better than the 5.14 percent average seen this time in 2008.

The 15-year fixed climbed to 4.45 percent from 4.38 percent, but still sits about a half-point lower than the 4.91 percent seen a year ago.

“Although interest rates for 30-year fixed-rate mortgages are above 5 percent this week for the first time since the end of October, they are still around 0.5 percentage points below this year’s peak set in mid-June,” said Frank Nothaft, Freddie Mac vice president and chief economist, in a statement.

“ARM rates increased by a lesser amount as the market consensus calls for no rate hikes by the Federal Reserve in the immediate future.”

The five-year adjustable-rate mortgage averaged 4.40 percent, up from 4.37 percent last week, but still more than a point below the 5.49 percent average seen last year.

The one-year ARM inched up as well, averaging 4.38 percent, four basis points higher than last week, but more than a half-point below the 4.95 percent average from a year ago.

The mortgage rates above are for conforming loan amounts with a loan-to-value of 80 percent.

Mortgage pricing adjustments may raise or lower the interest rate you actually receive; jumbo loans continue to price a percentage point or more higher than conforming loans.