Mortgage rates increase for the second week in a row
Mortgage rates increased once again, edging closer to the psychologically important 4% mark, according to Freddie Mac’s latest Primary Mortgage Market Survey.
The 30-year fixed-rate mortgage increased to an average 3.91% for the week ending October 12, 2017. This is up from last week’s 3.85%. Last year at this time, the 30-year mortgage interest rate was 3.47%.
The 15-year FRM increased to 3.21% this week, up from 3.15% last week and from 2.76% last year.
The five-year Treasury-indexed hybrid adjustable-rate mortgage, however, decreased to 3.16%. This is down from 3.18% last week but up from 2.82% last year.
Source- Freddie Mac and Housingwire