Thirty-Year Mortgage Rate Shoots Skyward

Jul 06, 2017

It was a November to remember for new home sales, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development

After what felt like an extended period of stagnation, the 30-year mortgage rate abruptly took a healthy upward swing, according to the latest data from Freddie Mac.

The 30-year fixed-rate mortgage (FRM) averaged 3.96 percent for the week ending July 6, up from last week when it averaged 3.88 percent. A year ago at this time, the 30-year FRM averaged 3.41 percent.

Also on the rise was the 15-year FRM, which averaged 3.22 percent this week, up from last week when it averaged 3.17 percent. A year ago at this time, the 15-year FRM averaged 2.74 percent. And the five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.21 percent this week, up from last week when it averaged 3.17 percent. A year ago at this time, the five-year ARM averaged 2.68 percent.

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Phil Hall

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Jul 06, 2017

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