Mortgage Rates Inch Up After Extended Decline

By June 19, 2017News

Freddie Mac’s most recent Primary Mortgage Market Survey shows average mortgage rates increasing across the board for the first time in more than a month.

“The 30-year mortgage rate rose 2 basis points over the week to 3.91 percent,” says Sean Becketti, Freddie Mac’s chief economist. “However, our survey was conducted before investors drove Treasury yields sharply lower in a reaction to the surprisingly weak CPI release. If that drop in yields sticks, mortgage rates are likely to follow in next week’s survey.”

Here’s a look at Freddie Mac’s survey findings for the week ending June 15:

 • The 30-year fixed-rate mortgage averaged 3.91 percent, with an average 0.5 point, up from the previous week when it averaged 3.89 percent. A year ago at this time, the 30-year fixed-rate mortgage averaged 3.54 percent.

• The 15-year fixed-rate mortgage averaged 3.18 percent, with an average 0.5 point, up from the previous week when it averaged 3.16 percent. A year ago at this time, the 15-year fixed-rate mortgage averaged 2.81 percent.

• The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.15 percent, with an average 0.4 point, up from the previous week when it averaged 3.11 percent. A year ago, the five-year adjustable-rate mortgage averaged 2.74 percent.