Average U.S. mortgage interest rates increased for the second consecutive week for the week ending July 13, 2017, according to Freddie Mac's weekly Primary Mortgage Market Survey.
The 30-year, fixed rate mortgage loan averaged 4.03 percent, with an average 0.5 point, an increase from 3.96 percent the previous week and 3.88 percent two weeks prior. A year ago the same 30-year loan averaged 3.42 percent.
"After fully absorbing the sharp increases in Treasury yields over the past couple of weeks, the 30-year mortgage rate has cleared the psychologically important 4 percent mark for the first time since May," Sean Becketti, Freddie Mac chief economist, said. "Today's survey rate stands at 4.03 percent, up 7 basis points from last week."
The 15-year, fixed rate mortgage loan averaged 3.29 percent, with an average 0.5 point. The previous week the 15-year note averaged 3.22 percent and 2.72 percent during the same week last year.
The 5-year, adjustable rate mortgage increased to an average 3.28 percent from 3.21 percent the previous week and 2.76 percent the previous year.