Mortgage rates rose slightly during the week ended April 9, ending a two week run of record lows but still staying comfortably under 5 percent.

According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 4.87 percent with 0.7 point, up from the new record of 4.78 percent with 0.7 point established last week.

The 15-year FRM averaged 4.54 percent, up two basis points from the previous week which had also set a new record.  Fees and points averaged 0.7 point both last week and the current week.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) eked out a single basis point increase to average 4.93 percent.  Fees and points were unchanged at 0.7 point.

One-year Treasury-indexed ARMs averaged 4.83 percent this week with an average 0.5 point, up from last week when it averaged 4.75 percent with 0.6 point. 

"Mortgage rates rose slightly this week but still remained historically low," said Frank Nothaft, Freddie Mac vice president and chief economist.  "Interest rates for 30-year fixed-rate mortgages have averaged below 5.0 percent for the last four weeks, which should keep homeowner affordability at record levels.

"Given these low rates, housing demand has strengthened.  Conventional mortgage applications both for refinancing and for home purchases have increased over the past five consecutive weeks ending April 3.  Since the end of February, applications for home purchases were up about 22 percent and nearly 129 percent for refinancing, according to the Mortgage Bankers Association."

Fannie Mae has released its weekly yields for the period ended April 6.  All rates of quoted on a net basis and do not include servicing fees.

The Conventional 30-year FRM had an average yield of 4.40 percent, up from 4.34 a week earlier.  The 15-year FRM was unchanged at 4.08.  Government guaranteed VA and FHA 30-year mortgage loans averaged 5.60 percent, a slight increase from the 5.59 average a week earlier.

One-year ARMs averaged 4.05 percent for the week.  During the week ended March 30 the rate was 3.90 percent.