Average U.S. mortgage interest rates slightly increased for the week ending May 11, 2017, and remained around 4 percent for the fourth consecutive week, according to Freddie Mac's weekly Primary Mortgage Market Survey.
The 30-year, fixed rate mortgage loan averaged 4.05 percent, with an average 0.5 percent, an increase from 4.02 percent the previous week and 3.57 percent during the same week last year. Mortgage interest rates closed out 2016 averaging 4.32 percent.
"The 10-year Treasury yield jumped 8 basis points this week while the 30-year mortgage rate rose 3 basis points to 4.05 percent,"Sean Becketti, chief economist for Freddie Mac, said. "Mixed economic reports over the last few weeks have anchored the 30-year mortgage rate around the 4 percent mark."
The 15-year, fixed rate mortgage averaged 3.29 percent, with an average 0.5 point. The 15-year note averaged 3.27 percent the previous week and 2.81 percent the previous year.
The five-year, adjustable-rate mortgage averaged 3.14 percent, with an average 0.5 point, an increase from 3.13 percent last week and 2.78 percent last year during the same week.