The benchmark 15-year fixed-rate mortgage rose to 3.12 percent from 3.05 percent. The benchmark 5/1 adjustable-rate mortgage fell to 2.9 from 2.93 percent.
Rates jumped off record lows about a month ago and have been rising since then. The recent spikes serve as a reminder to borrowers that the low rates won't last forever.
Weekly national mortgage surveyResults of Bankrate.com's Aug. 22, 2012, weekly national survey of large lenders and the effect on monthly payments for a $165,000 loan:
|30-year fixed||15-year fixed||5-year ARM|
|This week's rate:||3.91%||3.12%||2.9%|
|Change from last week:||+0.05||+0.07||-0.03|
|Change from last week:||+$4.72||+$5.58||-$2.65|
Overall, rates have increased about a quarter of a percentage point in recent weeks.