30-Year Mortgage Rates Rise

The average rate on the 30-year fixed-rate mortgage rose to 3.98 percent in the week ending Jan. 26, up from a record low of 3.88 percent in the prior week, Freddie Mac said Thursday.

The rate has been less than four percent for eight weeks. A year ago, the 30-year rate was at 4.80 percent.

"Fixed mortgage rates ticked up this week as the housing market ended 2011 on a high note," said Frank Nothaft, Freddie's chief economist, in a statement.

The 15-year fixed-rate mortgage rose to 3.24 percent in the latest week from 3.17 percent in the prior week.

Meanwhile, the average rate on the five-year Treasury-indexed hybrid adjustable-rate mortgage rose to 2.85 percent from 2.82 percent. The one-year Treasury-indexed ARM remained at 2.74 percent, matching a record low set in the prior week. Read more: MarketWatch