Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS)
, showing the average 30-year fixed mortgage rate (FRM) moving to its highest mark since July, averaging 3.95 percent with an average 0.5 point for the week ending Nov. 16, 2017. This mark is up from last week
when the 30-year FRM averaged 3.90 percent. A year ago at this time, the 30-year FRM averaged 3.94 percent.
"Rates increased this week,” said Sean Becketti, Chief Economist for Freddie Mac. “The 10-year Treasury yield ticked up six basis points, while the 30-year mortgage rate jumped five basis points to 3.95 percent. Today's survey rate is the highest rate in nearly four months."
Also this week, the 15-year FRM averaged 3.31 percent with an average 0.5 point, up from last week when it averaged 3.24 percent. A year ago at this time, the 15-year FRM averaged 3.14 percent.
The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.21 percent this week with an average 0.4 point, down from last week when it averaged 3.22 percent. A year ago at this time, the five-year ARM averaged 3.07 percent.