Mortgage Rates Post Slight Bump Up This Week

Mortgage rates this week ticked up only slightly, largely fueled by a better than expected jobs report, Freddie Mac reports in its weekly mortgage market survey. Still, mortgage rates remain below last year at this time.

Freddie Mac reports the following national averages for the week ending July 10:

  • 30-year fixed-rate mortgages: averaged 4.15 percent, with an average 0.7 point, rising from last week’s 4.12 percent. Last year at this time, 30-year rates averaged 4.51 percent.
  • 15-year fixed-rate mortgages: averaged 3.24 percent, with an average 0.6 point, rising from last week’s 3.22 percent average. A year ago, 15-year rates averaged 3.53 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.99 percent, with an average 0.4 point, rising from last week’s 2.98 percent. Last year at this time, 5-year ARMs averaged 3.26 percent.

Source: Freddie Mac