U.S. Mortgage Interest Rates Up Two Consecutive Weeks

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.