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Mortgage Rates Rise Heading Into Labor Day

  • September 1st 2016

by UrbanTurf Staff

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Mortgage Rates Rise Heading Into Labor Day: Figure 1

Long-term mortgage rates ticked up as the holiday weekend approached.

On Thursday morning, Freddie Mac reported 3.46 percent with an average 0.6 point as the average on a 30-year fixed-rate mortgage, up from 3.43 percent last week.

From Freddie Mac chief economist Sean Becketti on today’s rates:

The 10-year Treasury yield inched up in response to Fed Chair Janet Yellen’s speech last Friday then settled near last week’s average. The 30-year fixed-rate mortgage rose 3 basis points to 3.46 percent. Mortgage rates have hovered between 3.41 and 3.48 percent for the past ten weeks.

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_heading_into_labor_day/11628.

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