Short-term adjustable rate mortgages (ARMs) were unchanged during the last week, but longer term fixed and adjustable rate mortgages did move; if up or down depends on whether you accept the surveys behind the reports of Freddie Mac or the Mortgage Bankers Association (MBA).

According to Freddie Mac’s Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 6.73 percent with an average of 0.4 point, up from 6.63 percent and 0.4 point the previous week. The MBA’s Weekly Mortgage Applications Survey for approximately the same time frame reported that the average contract interest rate for the 30-year FRM was down four basis points to 6.61 percent from the previous week while points increased from 1.52 to 1.60 (including the origination fee.)