Mortgage rates increased once again just before the August jobs report and right after Yellen’s speech on Tuesday.
“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,” Freddie Mac Chief Economist Sean Becketti said.
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(Source: Freddie Mac)
The 30-year fixed-rate mortgage increased three basis points to 3.46% for the week ending in September 1, 2016. This is up from last week’s 3.43% but still down from last year’s 3.89%.
The 15-year FRM also increased to 2.77%, up from last week’s 2.74%. It is still down, however, from last year’s 3.09%.
The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.83% this week, up from last week’s 2.75%, but down from last year’s 2.9%.
The 30-year fixed-rate mortgage rose three basis points to 3.46%,” Becketti said. “Mortgage rates have hovered between 3.41% and 3.48% for the past ten weeks.”