Mortgage rates rose during the week ended May 14 for the third consecutive week, according to Freddie Mac's Primary Mortgage Market Survey.
The average rate for a 30-year fixed-rate mortgage (FRM) was 3.85%, up from 3.80% the previous week. A year ago at this time, the 30-year FRM averaged 4.20%.
The average rate for a 15-year FRM was 3.07%, up from 3.02% the previous week. A year ago at this time, the 15-year FRM averaged 3.29%.
The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) was 2.89%, down from 2.90% the week prior. A year ago, the five-year ARM averaged 3.01%.
The average rate for a one-year Treasury-indexed ARM was 2.48%, up from the previous week's 2.46%. At this time last year, the one-year ARM averaged 2.43%.