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Mortgage Rates Increase Slightly, Remain Well Below 4%

by UrbanTurf Staff

Mortgage Rates Increase Slightly, Remain Well Below 4%: Figure 1

Freddie Mac reported that the 30-year fixed-rate mortgage ticked up this week, averaging 3.66 percent with an average 0.6 point.

“Treasury yields marched higher this week. As a result, the 30-year mortgage rate jumped 7 basis points to 3.66 percent,” Freddie Mac’s Sean Becketti noted in a release. “The Federal Reserve’s decision to leave the Federal funds rate unchanged triggered a 9 basis point drop in the 10-year Treasury yield on Wednesday, however the drop occurred too late to impact this week’s survey.”

UrbanTurf has been following the trajectory of rates since 2010:

Mortgage Rates Increase Slightly, Remain Well Below 4%: 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.

This article originally published at http://dc.urbanturf.com/articles/blog/mortgage_rates_increase_slightly_remain_well_below_4/11166

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