Mortgage Rates Hit Highest Levels in 6 Weeks

Mortgage Rates Hit Highest Levels in 6 Weeks
Freddie Mac   article by Daily Real Estate News | October 6, 2017

The 30-year fixed-rate mortgage inched upwards this week, averaging 3.85 percent. It’s the highest average in six weeks, Freddie Mac reports.

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“After holding steady last week, rates ticked up this week,” says Sean Becketti, Freddie Mac’s chief economist. “The 10-year Treasury yield rose 8 basis points, while the 30-year mortgage rate increased 2 basis points to 3.85 percent.”

Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 5:

  • 30-year fixed-rate mortgages: averaged 3.85 percent, with an average 0.5 point, rising from last week’s 3.83 percent average. Last year at this time, 30-year rates averaged 3.42 percent.
  • 15-year fixed-rate mortgages: averaged 3.15 percent, with an average 0.5 point, rising from last week’s 3.13 percent. A year ago, 15-year rates averaged 2.72 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 3.18 percent, with an average 0.4 point, falling from last week’s 3.20 percent average. A year ago, 5-year ARMs averaged 2.80 percent.

Source: Freddie Mac; REALTOR® Magazine Online, Daily Real Estate News 100617


Kenneth Bargers, REALTOR® License 318311 ♦ Pilkerton Realtors License 257352
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Author: Kenneth Bargers

REALTOR®, Tennis Player, Titans & Vols Fan, Nashvillian... learn more about me at http://www.bargers-solutions.com/about-me

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