Fixed Mortgage Rates Move Higher for Second Consecutive Week

Freddie Mac's weekly Primary Mortgage Market Survey -- released August 9 -- shows fixed mortgage rates moving higher following stronger than expected employment reports.

• 30-Year fixed rate mortgage averaged 3.59% -- up from 3.55% last week and below 4.32% one year ago
  
  
• 15-Year fixed rate mortgage averaged 2.84% -- up from 2.83% last week and below 3.50% one year ago

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Borrowers may still pay closing costs which are not included in the survey.

To compare and track average mortgage rates from previous weeks throughout the year consult Freddie Mac's Compilation of Weekly Survey Data for 2012.

Mortgage calculators to compare payments and equity:

• Freddie Mac
• Bankrate.com
• The Federal Reserve Board

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders.