Mortgage rates tracked up this week, with the 30-year, fixed rate averaging 3.99 percent, up from 3.95 percent the week prior, according to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®). The 15-year, fixed rate averaged 3.44 percent, also up from 3.38 percent the week prior, and the five-year, Treasury-indexed hybrid adjustable rate averaged 3.46 percent, up slightly from 3.45 percent the week prior.
“After dipping slightly last week, Treasury yields surged this week amidst sell-offs in the bond market,” says Len Kiefer, deputy chief economist at Freddie Mac. The 10-year Treasury yield, for instance, reached its highest point since March of last year. Mortgage rates followed Treasury yields and ticked up modestly across the board. The 30-year fixed-rate mortgage averaged 3.99 percent, up four basis points from a week ago.”
Source: Freddie Mac
