Freddie Mac's weekly Primary Mortgage Market Survey® (PMMS®) released today, showed 30-year fixed-rate mortgage (FRM) averaged 6.03 percentfor the week ending April 24, 2008, up from last week when it averaged 5.88 percent. A year ago at this time, the 30-year FRM averaged 6.16 percent.

The 15-year FRM this week averaged 5.62 percent, up from last week when it averaged 5.40 percent. Last year at this time, the 15-year FRM averaged 5.87 percent.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.68 percent this week, up from last week when it averaged 5.48 percent. At this time, last year, the 5-year ARM averaged 5.88 percent.

One-year Treasury-indexed ARMs averaged 5.29 percent this week, up from last week when it was 5.10 percent. Last year, same time, the 1-year ARM averaged 5.43 percent

"Average rates on mortgages increased across the board this last week as the most recent economic data raised inflationary concerns in the capital markets," said Frank Nothaft, Freddie Mac vice president and chief economist. "For example, the Producer Price Index – a measure of wholesale inflation – increased 1.1 percent in March, nearly double the consensus expectations.

"March's index of leading indicators showed a tepid increase of 0.1 percent, after five consecutive months of decline. As a result, trading of federal funds futures contracts implied a reduced likelihood of a substantial rate cut at the next Federal Open Market Committee meeting."

source, Freddiemac's Primary Mortgage Market Survey® (PMMS®), www.freddiemac.com