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.

Click to Enlarge

(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.”