After establishing new record lows for several weeks near the beginning of the year, average mortgage rates posted their third straight increase during the past week according to the results of Freddie Mac's Primary Mortgage Market Survey.

The 30-year fixed-rate mortgage (FRM) had an average rate of 5.25 percent with 0.8 point during the week ended February 5. 

 In comparison, a week earlier the rate was 5.10 percent with 0.7 point.

The 15-year FRM carried an average contract interest rate of 4.92 percent, 12 basis points higher than the week ended January 29. 

Fees and points also increased from 0.7 to 0.8.

The five-year Treasury-indexed hybrid adjustable-rate mortgage moved in the opposite direction, declining from 5.27 percent to 5.25 percent. 

Fees and points remained at 0.6 point.

One-year Treasury-indexed ARMs were up slightly from 4.90 percent to 4.92 percent while fees and points declined from 0.6 to 0.5.

 For more information about how mortgage rates can effect your monthly payment and details on the best mortgage rates in town, contact me at 864-527-7685 and I will get you in touch with our preferred lender.