U.S. Mortgage Rates Begin the New Year Higher

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Average fixed mortgage rates in the U.S. climbed higher at the start of the new year, according to Freddie Mac. 

The average 30-year fixed-rate mortgage was 4.53 percent this week, up from last week's 4.48 percent. This time last year the average was 3.34 percent. 

"Mortgage rates edged up to begin the year on signs of a stronger economic recovery," Frank Nothaft, chief economist, Freddie Mac, said in the report. "The pending home sales index inched up 0.2 percent in November, after five consecutive months of decline."

Also, the Conference Board reported that confidence among consumers rose in December and the S&P/Case-Shiller 20-city composite house price index increased 13.6 percent over the 12-months ending in October 2013.

The 15-year fixed-rate mortgage averaged 3.55 percent, increasing from last week's 3.52 percent. A year ago it was 2.64 percent. 

The one-year treasury-indexed ARM averaged 2.56 percent this week, unchanged from last week.