If you're in the market to purchase a home, you may have heard that mortgage interest rates have increased in recent weeks after declining earlier in the year to the lowest level in about two years.
The average rate for a five-year, adjustable-rate mortgage slipped to 3 percent from 3.01 percent, and the average rate on one-year adjustable rate mortgage remained the same at 2.53 percent.
Freddie Mac surveys lenders across the United States at the beginning of each week to calculate average mortgage rates.