Mortgage

Freddie Mac: Mortgage rates could begin to rise soon

10-year Treasury yield jumps 11 basis points

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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rates

(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.

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