Mortgage rates held steady this week, however they could be about to rise once again, according to the latest Primary Mortgage Market Survey from Freddie Mac.
“Following a sharp decline last week, the 10-year Treasury yield rose 11 basis points this week,” Freddie Mac Chief Economist Sean Becketti said. “The 30-year mortgage rate, however, remained unchanged at 3.78%.”
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(Source: Freddie Mac)
The 30-year fixed-rate mortgage held steady at 3.78% for the week ending September 14, 2017. This is up from last year’s 3.5%.
The 15-year FRM also remained unchanged from last week at 3.08%, but up from last year’s 2.77%.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage slipped slightly to 3.13%. This is down from last week’s 3.15% but up from 2.82% last year.
“Treasury yields continue to rise, mortgage rates could see an increase in next week’s survey,” Becketti said.