Just as previously predicted, mortgage rates increased slightly this week, according to Freddie Mac’s Primary Mortgage Market Survey.
Once again, the Treasury yield rose, signaling that mortgage rates could continue their upward climb.
“After holding steady last week, rates ticked up this week,” Freddie Mac Chief Economist Sean Becketti said. “The 10-year Treasury yield rose eight basis points, while the 30-year mortgage rate increased two basis points to 3.85%.”
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(Source: Freddie Mac)
The 30-year fixed rate mortgage increased to 3.85% for the week ending October 5, 2017. This is up from last week when mortgage rates held steady at 3.83%, and from last year’s 3.42%.
The 15-year FRM also increase two percentage points from 3.13% last week to 3.15%. This is up from 3.72% last year.
However, the five-year Treasury-indexed hybrid adjustable-rate mortgage decreased slightly to 3.18%, down from 3.2% last week but up from 2.8% last year.