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U.S. Mortgage Rates Moved Higher Into Thanksgiving Weekend

U.S. Mortgage Rates Moved Higher Into Thanksgiving Weekend

Residential News » Washington D.C. Edition | By WPJ Staff | November 29, 2016 8:56 AM ET



According to Freddie Mac's latest Primary Mortgage Market Survey, the average U.S. fixed mortgage rate moved higher with the average 30-year fixed-rate mortgage topping 4 percent for the first time since 2015.
 
Sean Becketti, chief economist of Freddie Mac said, "In a short week leading up to the Thanksgiving holiday, the 10-year Treasury yield rose 8 basis points. The 30-year mortgage rate followed suit, rising 9 basis points to 4.03 percent. This increase marks the first week since 2015 that mortgage rates have risen above 4 percent."
 
U.S. Mortgage News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.03 percent with an average 0.5 point for the week ending November 23, 2016, up from last week when it averaged 3.94 percent. A year ago at this time, the 30-year FRM averaged 3.95 percent.
  • 15-year FRM this week averaged 3.25 percent with an average 0.5 point, up from last week when it averaged 3.14 percent. A year ago at this time, the 15-year FRM averaged 3.18 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.12 percent this week with an average 0.4 point, up from last week when it averaged 3.07 percent. A year ago, the 5-year ARM averaged 3.01 percent.

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