According to Freddie Mac's latest Primary Mortgage Market Survey, the average 30-year fixed mortgage rate in the U.S. ticked up to its highest mark in six weeks in early October 2017.
Sean Becketti, chief economist at Freddie Mac said, "After holding steady last week, rates ticked up this week. The 10-year Treasury yield rose 8 basis points, while the 30-year mortgage rate increased 2 basis points to 3.85 percent."
Freddie Mac News Facts:
30-year fixed-rate mortgage (FRM) averaged 3.85 percent with an average 0.5 point for the week ending October 5, 2017, up from last week when it averaged 3.83 percent. A year ago at this time, the 30-year FRM averaged 3.42 percent.
15-year FRM this week averaged 3.15 percent with an average 0.5 point, up from last week when it averaged 3.13 percent. A year ago at this time, the 15-year FRM averaged 2.72 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.18 percent this week with an average 0.4 point, down from last week when it averaged 3.20 percent. A year ago at this time, the 5-year ARM averaged 2.80 percent.
According to Freddie Mac's latest Primary Mortgage Market Survey for the first week of January 2018, the average mortgage rate dipped in the U.S. Treasury yields fell from a week ago, helping to drive mortgage rates down to start the year.