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Mortgage Rates Rise After Lengthy Decline

by UrbanTurf Staff

Mortgage Rates Rise After Lengthy Decline: Figure 1

For two months, mortgage rates were on a steady decline. That is until last week.

Freddie Mac reported 3.83 percent with an average 0.5 point as the average for a 30-year mortgage last Thursday, rising five basis points from the previous week.

“The 10-year Treasury yield continued its upward trend, rising 7 basis points this week,” Freddie Mac’s Sean Becketti said in a release. “This week’s uptick in the 30-year mortgage rate ends a nearly two-month streak of declines.”

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_rise_after_lengthy_decline/13047

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