Real Estate News

Freddie Mac: Mortgage rates increase after 2 months of declines

Mortgage rates increased for the first time after two months of straight declines, according to the latest Primary Mortgage Market Survey from Freddie Mac.

“This week’s uptick in the 30-year mortgage rate ends a nearly two-month streak of declines,” Freddie Mac Chief Economist Sean Becketti said.

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9-21-17

(Source: Freddie Mac)

The 30-year fixed-rate mortgage increased to an average 3.83% for the week ending September 21, 2017. This is up from last week’s 3.78% and from 3.48% last year.

The 15-year FRM also increased, rising from 3.08% last week and 2.76% last year to hit 3.13% this week.

The five-year Treasury-indexed hybrid adjustable-rate mortgage increased to 3.17%, up from 3.13% last week and 2.8% last year.

“The 10-year Treasury yield continued its upward trend, rising seven basis points this week,” Becketti said. “As we expected, the 30-year mortgage rate followed suit, increasing five basis points to 3.83%.”

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