The WPJ
Residential Real Estate News
U.S. Mortgage Rates Uptick in Mid-September
According to Freddie Mac's latest Primary Mortgage Market Survey, the average 30-year fixed mortgage rate in the U.S. increased to its highest level since June 2016.
Sean Becketti, chief economist of Freddie Mac says, "The 10-year Treasury yield rose 18 basis points to 1.73 percent, its highest level since Brexit. The 30-year fixed-rate mortgage followed suit, rising 6 basis points to 3.50 percent this week. This is the first week since June that mortgage rates were above 3.48 percent, snapping an 11-week trend."
Freddie Mac News Facts:
- 30-year fixed-rate mortgage (FRM) averaged 3.50 percent with an average 0.5 point for the week ending September 15, 2016, up from last week when it averaged 3.44 percent. A year ago at this time, the 30-year FRM averaged 3.91 percent.
- 15-year FRM this week averaged 2.77 percent with an average 0.5 point, up from last week when it averaged 2.76 percent. A year ago at this time, the 15-year FRM averaged 3.11 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.82 percent this week with an average 0.4 point, up from last week when it averaged 2.81 percent. A year ago, the 5-year ARM averaged 2.92 percent.
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