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Mortgage Rates Jump To 3Month High
Dated: October 30 2017
Mortgage Rates Jump to 3-Month High
DAILY REAL ESTATE NEWS | FRIDAY, OCTOBER 27, 2017
Mortgage rates reached their highest averages since July this week.
“The 10-year Treasury yield surged this week, jumping 12 basis points,” says Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate followed suit, increasing 6 basis points to 3.94 percent. Today's survey rate is the highest rate in three months.”
Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 26:
30-year fixed-rate mortgages: averaged 3.94 percent, with an average 0.5 point, rising from last week’s 3.88 percent average. Last year at this time, 30-year rates averaged 3.47 percent.
15-year fixed-rate mortgages: averaged 3.25 percent, with an average 0.5 point, increasing from 3.19 percent last week. A year ago, 15-year rates averaged 2.78 percent.
5-year hybrid adjustable-rate mortgages: averaged 3.21 percent, with an average 0.4 point, increasing from last week’s 3.17 percent average. A year ago, 5-year ARMs averaged 2.84 percent.
Source: Freddie Mac