Mortgage rates moved up for the first time in nearly two months this week, according to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®). The 30-year, fixed rate averaged 3.83 percent, up from 3.78 percent the week prior, while the 15-year, fixed rate averaged 3.13 percent, up from 3.08 percent the week prior and the 5-year, Treasury-indexed hybrid adjustable rate averaged 3.17 percent, up from 3.13 percent the week prior.
“The 10-year Treasury yield continued its upward trend, rising seven basis points this week,” says Sean Becketti, chief economist at Freddie Mac. “As we expected, the 30-year mortgage rate followed suit, increasing five basis points to 3.83 percent. This week’s uptick in the 30-year mortgage rate ends a nearly two-month streak of declines.”
Source: Freddie Mac
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