After six weeks in a row of hitting new lows, fixed rates finally reversed course this past week and rose slightly. Freddie Mac announced that for the week ending June 14, 30-year fixed rates increased from 3.67% to 3.71%. The average for 15-year loans rose to 2.98%. Adjustable rates were down, with the average for one-year adjustables falling to 2.78% and five-year adjustables decreasing to 2.80%. A year ago 30-year fixed rates were substantially higher at 4.50%. Attributed to Frank Nothaft, Vice President and Chief Economist, Freddie Mac, "Fixed rates on home loans edged up slightly from record lows during a mild week of economic data releases. The Federal Reserve Board reported that household net worth rose by $2 trillion to $62.9 trillion over the first three months of 2012 primarily due to increases in stock markets. However, this is still well below the peak of $67.5 trillion set in the third quarter of 2007. Nonetheless, homeowners saw an aggregate $372 billion rise in property values over the first three months of this year."



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