Freddie Mac’s most recent Primary Mortgage Market Survey shows the average 30-year fixed mortgage rate posting its biggest week-over-week increase since July 2017.
“The 30-year mortgage rate increased for a second consecutive week, jumping 6 basis points to 3.91 percent,” says Sean Becketti, Freddie Mac’s chief economist. “The 10-year Treasury yield also rose, climbing 4 basis points this week.”
Here, a look at Freddie Mac’s survey findings for the week ending Oct. 12:
- The 30-year fixed-rate mortgage averaged 3.91percent, with an average 0.5 point, up from the previous week when it averaged 3.85 percent. A year ago at this time, the 30-year fixed-rate mortgage averaged 3.47 percent.
- The 15-year fixed-rate mortgage averaged 3.21percent, with an average 0.5 point, up from the previous week when it averaged 3.15 percent. A year ago at this time, the 15-year fixed-rate mortgage averaged 2.76 percent.
- The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged3.16percent, with an average 0.4 point, down from the previous week when it averaged 3.18 percent. A year ago, the five-year adjustable-rate mortgage averaged 2.82 percent.