Home Loan Interest Rates Hit 2017 High

For the first time in weeks, the 30-year mortgage rate moved with treasury yields and jumped 11 basis points to 4.21 percent. The strength of Friday’s employment report and the outcome of next week’s FOMC meeting are likely to set the direction of next week’s survey rate.

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

  • 30-year fixed-rate mortgage (FRM) averaged 4.21 percent with an average 0.5 point for the week ending March 9, 2017, up from last week when it averaged 4.10 percent. A year ago at this time, the 30-year FRM averaged 3.68 percent.
  • 15-year fixed-rate mortgage  (FRM) this week averaged 3.42 percent with an average 0.5 point, up from last week when it averaged 3.32 percent. A year ago at this time, the 15-year FRM averaged 2.96 percent.

Source: Freddie Mac

Mortgage Rates Climb Slightly From Recent Lows

Fixed-rate mortgages moved up slightly after five consecutive weeks of falling to new lows for the year, Freddie Mac reports in its weekly mortgage market survey.

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

  • 30-year fixed-rate mortgages: averaged 4.14 percent, with an average 0.5 point, rising from last week’s 4.12 percent average. Last year at this time, 30-year rates averaged 3.91 percent.
  • 15-year fixed-rate mortgages: averaged 3.23 percent, with an average 0.5 point, increasing from last week’s 3.21 percent average. A year ago, 15-year rates averaged 3.03 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.93 percent, with an average 0.4 point, dropping from last week’s 2.96 percent average. Last year at this time, 5-year ARMs averaged 2.74 percent.
  • 1-year ARMs: averaged 2.40 percent, with an average 0.4 point, dropping from last week’s 2.41 percent average. A year ago, 1-year ARMs averaged 2.58 percent.

Source: Freddie Mac