Mortgage Rates Hit Highest Levels in 6 Weeks

The 30-year fixed-rate mortgage inched upwards this week, averaging 3.85 percent. It’s the highest average in six weeks, Freddie Mac reports. “After holding steady last week, rates ticked up this week,” says Sean Becketti, Freddie Mac’s chief economist.

Freddie Mac reports the following national averages for the week ending Oct. 5:

’30-year’ fixed-rate mortgages: averaged 3.85 percent, with an average 0.5 point, rising from last week’s 3.83 percent average. Last year at this time, 30-year rates averaged 3.42 percent.

’15-year’ fixed-rate mortgages: averaged 3.15 percent, with an average 0.5 point, rising from last week’s 3.13 percent. A year ago, 15-year rates averaged 2.72 percent.

Source: Freddie Mac

Leave a Reply

Your email address will not be published. Required fields are marked *

Bot Detection: What year was the year before last year?