Mortgage Rates Hold at Yearly Highs!

Fixed-rate mortgages mostly held steady this week and mostly unchanged from last week’s averages. Rates remain near their highs for the year, Freddie Mac reports in its weekly mortgage market survey. Over the last few weeks, the 30-year fixed-rate mortgage has edged 1 percent higher than it was a year ago at this time.

Freddie Mac reports the following national averages for the week ending Sept. 12:

  • 30-year fixed-rate mortgages: averaged 4.57 percent, with an average 0.8 point, the same average as last week. Last year at this time, 30-year rates averaged 3.55 percent.
  • 15-year fixed-rate mortgages: averaged 3.59 percent, with an average 0.7 point, holding the same as last week. Last year at this time, 15-year rates averaged 2.85 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 3.22 percent, with an average 0.5 point, dropping from last week’s 3.28 percent average. A year ago at this time, 5-year ARMs averaged 2.72 percent.

Source: Freddie Mac