Mortgage ‘Rates Rise’ for First Time in 5 Weeks!

Mortgage rates were on the rise slightly this week, following more than a month of declines after the Federal Reserve announced it would delay tapering its $85 billion per month bond purchasing program.

Freddie Mac reports the following  mortgae rates for the week ending Oct. 10, 2013:

  • 30-year fixed-rate mortgages: averaged 4.23 percent, with an average 0.7 point, rising from last week’s 4.22 percent average. Last year at this time, 30-year rates averaged 3.39 percent.
  • 15-year fixed-rate mortgages: averaged 3.31 percent, with an average 0.7 point, rising from last week’s 3.29 percent average. Last year at this time, 15-year rates averaged 2.70 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 3.05 percent, with an average 0.4 point, rising from last week’s 3.03 percent average. Last year at this time, 5-year ARMs averaged 2.73 percent.

Source: Freddie Mac

2 thoughts on “Mortgage ‘Rates Rise’ for First Time in 5 Weeks!”

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