According to Freddie Mac's latest Primary Mortgage Market Survey for mid-September 2017, the average 30-year fixed mortgage rate increased for the first time in seven weeks.
Sean Becketti, chief economist of Freddie Mac says, "The 10-year Treasury yield continued its upward trend, rising 7 basis points this week. As we expected, the 30-year mortgage rate followed suit, increasing 5 basis points to 3.83 percent. This week's uptick in the 30-year mortgage rate ends a nearly two-month streak of declines."
Freddie Mac News Facts
30-year fixed-rate mortgage (FRM) averaged 3.83 percent with an average 0.5 point for the week ending September 21, 2017, up from last week when it averaged 3.78 percent. A year ago at this time, the 30-year FRM averaged 3.48 percent.
15-year FRM this week averaged 3.13 percent with an average 0.5 point, up from last week when it averaged 3.08 percent. A year ago at this time, the 15-year FRM averaged 2.76 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.17 percent this week with an average 0.4 point, up from last week when it averaged 3.13 percent. A year ago at this time, the 5-year ARM averaged 2.80 percent.
According to the U.S. Department of Housing and Urban Development, sales of newly built, single-family homes in the U.S. fell to a seasonally adjusted annual rate of 544,000 units in October 2018, after an upwardly revised September report.