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Mortgage Interest Rates Up for the First Time in Seven Weeks

Sep 21, 2017 1:19:25 PM

The average mortgage interest rate in the United States increased for the first time in seven weeks for the week ending September 21, 2017, but rates remained below 4 percent, according to Freddie Mac's weekly Primary Mortgage Market Survey. 

The Cost of a Home Increases with Rising Interest RatesThe 30-year, fixed-rate mortgage loan averaged 3.83 percent, with an average 0.5 point, an increase from 3.78 percent the previous week. The 30-year note averaged 3.48 percent during the same week last year.  

"The 10-year Treasury yield continued its upward trend, rising 7 basis points this week," Sean Becketti, Freddie's Mac chief economist, said. "As we expected, the 30-year mortgage rate followed suit, increasing 5 basis points to 3.83 percent. This week's uptick in the 30-year mortgage rate ends a nearly two-month streak of declines."

The 15-year, fixed-rate mortgage interest rate average 3.13 percent, with an average 0.5 point. The five-year, adjustable-rate mortgage loan averaged 3.17 percent, with an average 0.4 point.

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Topics: Mortgage Rates & News

    

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