Mortgage rates edge up in latest survey

From Staff and Wire Reports - Orlando Sentinel

Mortgage rates around the country rose this week but remain at a level that should continue to support the buoyant housing market. Mortgage giant Freddie Mac reported Thursday that for the week ending July 7, rates on 30-year, fixed-rate mortgages increased to 5.62 percent, up from last week's 5.53 percent, which had marked the lowest rate since early April 2004. Rates on 15-year, fixed-rate mortgages averaged 5.20 percent, up from 5.12 percent. For one-year adjustable-rate mortgages, rates rose to 4.33 percent, compared with 4.24 percent last week. Rates on five-year hybrid adjustable-rate mortgages averaged 5.19 percent, up from 5.06 percent.