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Mortgage Rates Post Biggest Jump Since March

by UrbanTurf Staff

Mortgage Rates Post Biggest Jump Since March: Figure 1

A week after dropping to their lowest level of the year, mortgage rates posted their largest jump in months on Thursday.

Freddie Mac reported 3.96 percent with an average 0.6 point as the average for a 30-year mortgage today, jumping 8 basis points since last week.

“Global interest rates turned up sharply over the last week,” Freddie Mac’s Sean Becketti said in a release. “The 10-year Treasury yield was no exception, increasing 10 basis points in a holiday-shortened week. The 30-year mortgage rate followed suit, rising 8 basis points to 3.96 percent.”

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_post_biggest_jump_since_march/12766

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