Freddie Mac’s most recent Primary Mortgage Market Survey shows that a jump this past week in the personal consumption expenditure (PCE) — the price index tracked most closely by the Fed — raised the prospect that inflation might not have gone by the wayside after all. Investors reacted by driving the yield on the 10-year Treasury to its highest point since June, while the 30-year mortgage rate jumped 7 basis points to 3.54 percent during the week, marking the largest one-week increase in more than six months.
Here’s a snapshot of Freddie Mac’s survey findings:
- The 30-year fixed-rate mortgage averaged 3.54 percent, with an average 0.5 point for the week ending Nov. 3, up from the previous week when it averaged 3.47 percent. A year ago at this time, the 30-year fixed-rate mortgage averaged 3.87 percent.
- The 15-year fixed-rate mortgage averaged 2.84 percent, with an average 0.5 point, up from the previous week when it averaged 2.78 percent. A year ago at this time, the 15-year fixed-rate mortgage averaged 3.09 percent.
- The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.87 percent, with an average 0.4 point, up from the previous week when it averaged 2.84 percent. A year ago, the five-year adjustable-rate mortgage averaged 2.96 percent.
