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Mortgage Rates Hit Highest Level Since Last October

  • July 16, 2015

by Tianna Mañón

Mortgage Rates Hit Highest Level Since Last October: Figure 1

Mortgage rates rose this week after a brief lull in early July.

The average rate on a 30-year fixed-rate mortgage is 4.09 percent with an average 0.6 point, Freddie Mac announced Thursday morning. This is the highest that rates have been since October 2014.

While this is the highest that rates have been in eight months, it is important to remember that 4.09 was a record low back in September 2011.

According to Sean Becketti, chief economist at Freddie Mac, global economic issues continue to impact rates in the U.S. “The crisis in Greece continues to generate volatility in U.S. Treasury yields,” he said.

UrbanTurf is following the trajectory of rates in this chart:

Mortgage Rates Hit Highest Level Since Last October: Figure 2

The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

See other articles related to: mortgage rates

This article originally published at http://dc.urbanturf.com/articles/blog/4.09_mortgage_rates_back_on_the_rise/10129

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