Interest rates increased this week across the globe, and the U.S. followed suit with a jump in the 10-year Treasury.
“Global interest rates turned up sharply over the last week,” Freddie Mac Chief Economist Sean Becketti said. “The 10-year Treasury yield was no exception, increasing 10 basis points in a holiday-shortened week.”
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(Source: Freddie Mac)
The 30-year fixed-rate mortgage increased to 3.96% for the week ending July 6, 2017. This is a significant increase of eight basis points from last week’s average of 3.88%, and is up from last year’s 3.41%.
The 15-year FRM also increase, hitting an average 3.22% for the week. This is up from last week’s 3.17% and last year’s 2.74%.
The five-year Treasury-indexed hybrid adjustable-rate mortgage increased to 3.21%, up from 3.17% last week and 2.68% last year.
“The 30-year mortgage rate followed suit, rising eight basis points to 3.96%,” Becketti said.