Freddie Mac: Interest rates increase in U.S. and across the globe

30-year sees increase of eight basis points

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.”

Click to Enlarge


(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.

Most Popular Articles

HomeStreet Bank fined for kickbacks to real estate agents, homebuilders

The FDIC announced Wednesday that it reached a settlement with HomeStreet Bank after an investigation found that HomeStreet had paid kickbacks to real estate agents and homebuilders in exchange for their mortgage business.

Nov 06, 2019 By

Latest Articles

Offerpad will let buyers customize their homes before they move in

Arizona-based iBuyer Offerpad recently announced its latest feature, one that allows homebuyers to customize their homes before moving in. According to company, consumers, upon selecting an available listing through the company’s app or website, will be able to select and visualize customization options.

Nov 11, 2019 By