Interest rates increased slightly the week ending August 2, 2012. Freddie Mac reported an increase for both 30 yr and 15 yr fixed mortgages.
The closing interest rate for a 30 yr-fixed mortgage was 3.55%, and 2.83% for a 15 yr-fixed mortgage. Both rates are still lower than the current rate last year at this time. Interest rates last year were around 4.39% for a 30 yr-fixed mortgage and 3.68% for a 15 yr-fixed mortgage.