According to Freddie Mac's latest Primary Mortgage Market Survey, the average 30-year fixed mortgage rate in the U.S. hit their highest mark of 2017.
Sean Becketti, chief economist at Freddie Mac says, "The 10-year Treasury yield rose about 10 basis points this week. For the first time in weeks, the 30-year mortgage rate moved with treasury yields and jumped 11 basis points to 4.21 percent. The strength of Friday's employment report and the outcome of next week's FOMC meeting are likely to set the direction of next week's survey rate."
Freddie Mac News Facts
30-year fixed-rate mortgage (FRM) averaged 4.21 percent with an average 0.5 point for the week ending March 9, 2017, up from last week when it averaged 4.10 percent. A year ago at this time, the 30-year FRM averaged 3.68 percent.
15-year FRM this week averaged 3.42 percent with an average 0.5 point, up from last week when it averaged 3.32 percent. A year ago at this time, the 15-year FRM averaged 2.96 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.23 percent this week with an average 0.4 point, up from last week when it averaged 3.14 percent. A year ago, the 5-year ARM averaged 2.92 percent.
Despite steady job creation, record stock market gains and faster economic growth in recent months, new consumer findings surprisingly show that a smaller share of households believe that now is a good time to buy or sell a home.
According to Freddie Mac's latest Primary Mortgage Market Survey, the average 30-year fixed mortgage rate inched lower in the U.S> in late November 2017. The 30-year fixed mortgage rate fell two basis points to 3.9 percent in this week's survey.
According to Freddie Mac's latest Primary Mortgage Market Survey, the average U.S. mortgage rate hit their highest marks since July 2017. The 10-year Treasury yield surged this week, jumping 12 basis points.
According to the National Association of Home Builders/Wells Fargo Housing Market Index, U.S. builder confidence in the market for newly-built single-family homes rose four points to a level of 68 in October 2017. This was the highest reading since May 2017.