Facebook Twitter Instagram
    Mortgage.info
    • First Time Homebuyer
    • Loan Programs
    • VA Programs
    • Refinancing
    • Beyond the Mortgage
    Mortgage.info
    Home»Interest Rates»Mortgage Rates Jump for Second Consecutive Week
    Interest Rates

    Mortgage Rates Jump for Second Consecutive Week

    Chris HamlerBy Chris HamlerJuly 17, 2017Updated:August 10, 2017No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Last week, we can recall how mortgage rates soared alongside global interest rates with the 10-year Treasury yield increasing 10 basis points. Now, after fully assimilating Treasury yield increases in the past weeks, mortgage ratescontinued its march forward with the 30-year mortgage rate clearing the 4 percent mark for the first time since May.

    The Report

    Per Freddie Mac’s Primary Mortgage Market Surveyfor the week ending July 13, 2017:

    The 30-year fixed-rate mortgage rose to 4.03 percent from last week’s 3.96 percent. During the same time a year ago, the 30-year FRM average finished at a much lower tier (3.42 percent). This was during the peak of the Brexit ripple.

    The 15-year fixed-rate mortgage also slightly increased from the previous week’s 3.22 percent record to the survey week’s 3.29 percent. A year back, the median for the 15-year FRM was 2.72 percent.

    The 5-year Treasury-indexed hybrid adjustable-rate mortgage concluded with 3.28 percent, also up from 3.21 percent the week prior. A year ago, the 5-year ARM average finished at 2.76 percent.

    »Click Here to get Matched With a Lender»

    The Survey

    The Primary Mortgage Market Survey® was established in April 1971 as the foremost source of mortgage trends in the regional and national level. Its data is utilized by both the public and the mortgage industry at large to gauge market conditions and evaluate mortgage loan options.

    Survey Parameters

    The survey results are gathered based on lenders’ most popular mortgage products – inclusive of 30 and 15-year FRMs as well as adjustable-rate mortgages. The first-lien prime conventional conforming home purchase mortgages (with an LTV of 80 percent) are considered primary basis for the survey. Meanwhile, the U.S. Treasury yields are used to index ARMs. Lenders are asked to provide the a) initial coupon rate and points, as well as b) ARM margins for this purpose.

    »Click Here to get Matched With a Lender»

    Chris Hamler
    + posts
    • Chris Hamler
      https://mortgage.info/author/chris-hamler/
      Mortgage Programs for First-Time Home Buyers
    • Chris Hamler
      https://mortgage.info/author/chris-hamler/
      So You Have a House Now. What Else Do You Need?
    • Chris Hamler
      https://mortgage.info/author/chris-hamler/
      Should I Cash-Out My Equity to Invest?
    • Chris Hamler
      https://mortgage.info/author/chris-hamler/
      How Will the New Tax Laws Impact Homeownership?
    freddie mac Freddie Mac Primary Mortgage Market Survey interest rates mortgage interest rates mortgage rates Primary Mortgage Market Survey
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Chris Hamler

    Related Posts

    ARM Loans: What is a Fully Indexed Interest Rate?

    December 8, 2022

    Why Understanding APR Is Key When Shopping for a Mortgage

    November 8, 2022

    What is a 2-1 Buydown?

    November 1, 2022
    Mortgage.info
    © 2023 Mortgage.info Designed by ThemeSphere.

    Type above and press Enter to search. Press Esc to cancel.