Residential

U.S. Mortgage Rates Jump, Hit 3-Month Highs in Late October

According to Freddie Mac’s latest Primary Mortgage Market Survey, the average U.S. mortgage rate hit their highest marks since July 2017.

Sean Becketti, chief economist of Freddie Mac said, “The 10-year Treasury yield surged this week, jumping 12 basis points. The 30-year mortgage rate followed suit, increasing 6 basis points to 3.94 percent. Today’s survey rate is the highest rate in three months.”

Freddie Mac News Facts

• 30-year fixed-rate mortgage (FRM) averaged 3.94 percent with an average 0.5 point for the week ending October 26, 2017, up from last week when it averaged 3.88 percent. A year ago at this time, the 30-year FRM averaged 3.47 percent.

Read Article at World Property Journal

Leave a Reply