Mortgage Rates Move Up After 2-Month Downtrend

RISMEDIA, Friday, September 22, 2017— Mortgage rates moved up for the first time in nearly two months this week, according to Freddie Mac's recently released Primary Mortgage Market Survey® (PMMS®). The 30-year, fixed rate averaged 3.83 percent, up from 3.78 percent the week prior, while the 15-year, fixed rate averaged 3.13 percent, up from 3.08 percent the week prior and the 5-year, Treasury-indexed hybrid adjustable rate averaged 3.17 percent, up from 3.13 percent the week prior.

"The 10-year Treasury yield continued its upward trend, rising seven basis points this week," says Sean Becketti, chief economist at Freddie Mac. "As we expected, the 30-year mortgage rate followed suit, increasing five basis points to 3.83 percent. This week's uptick in the 30-year mortgage rate ends a nearly two-month streak of declines."

Source: Freddie Mac

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