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Mortgage Rates Hit Highest Level in Three Months

  • October 26th 2017

by UrbanTurf Staff

Mortgage Rates Hit Highest Level in Three Months: Figure 1

Mortgage rates hit their highest level since July this week.

Freddie Mac reported 3.94 percent with an average 0.5 point as the average for a 30-year mortgage on Thursday, rising six basis points from last week.

“The 10-year Treasury yield surged this week, jumping 12 basis points,” Freddie Mac’s Sean Becketti said in a release. “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.”

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.

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_hit_highest_level_in_three_months/13183.

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