During the last week in January, Freddie Mac released the results of its Primary Mortgage Market Survey. It shows long- and short-term rates rising. For example, the 30-year fixed-rate mortgage (FRM) increased to an average of 4.80 percent with points (fees) at 0.7 point. The 15-year FRM averaged 4.09 percent with an average 0.7 point. A year ago at this time, the 15-year FRM averaged 4.39 percent.

“Mortgage rates followed bond yields a little higher amid positive data reports from The Conference Board,” said Frank Nothaft, vice president and chief economist for Freddie Mac. “That suggests the economy is strengthening. The index of leading indicators rose 1.0 percent in December, nearly twice that of the market consensus forecast and represented the sixth consecutive monthly increase, according to the Board. They also reported a stronger gain in consumer confidence for January, rising to an eight-month high. In addition, the share of households who said jobs were plentiful rose to the highest level since May 2009.”