Bond Yields Inch Up, Bringing Rates With Them

In Freddie Mac's results of its Primary Mortgage Market Survey the 30-year fixed-rate mortgage (FRM) averaged 6.17 percent for the week ending December 27, 2007, up from the previous week when it averaged 6.14 percent. Last year at this time, the 30-year FRM averaged 6.18 percent.
"Stronger consumer spending and an increase in the core price deflator in November caused long term bond yields to inch up, with mortgage rates following," said Frank Nothaft, Freddie Mac vice president and chief economist.

U.S. averages as of December 27, 2007:

30 yr. fixed: 6.17%
15 yr. fixed: 5.79%
1 yr. adj: 5.53%