Mortgage Rates Continue to Climb
July 13, 2017
Average mortgage rates were up for a second consecutive week, according to new data from Freddie Mac.
The 30-year fixed-rate mortgage (FRM) averaged 4.03 percent, up from last week when it averaged 3.96 percent. The 15-year FRM this week averaged 3.29, up from last week when it averaged 3.22 percent. And the five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.28 percent this week, up from last week when it averaged 3.21 percent.
“After fully absorbing the sharp increases in Treasury yields over the past couple of weeks, the 30-year mortgage rate has cleared the psychologically important four percent mark for the first time since May,” said Freddie Mac Chief Economist Sean Becketti.
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