Opinions and information on Real Estate issues in the West Central area of Florida. Including Zephyrhills, Dade City, San Antonio, North Tampa, Lutz, Land O'Lakes, Temple Terrace, Wesley Chapel, Saint Leo, North Lakeland, and Eastern Hernando County - JOHN ELWELL - REALTOR at CENTURY 21 Bill Nye Realty, Inc. 34619 State Road 54, Zephyrhills, FL 33541 Tel: 813-783-4444 LICENSED IN FLORIDA
After 7 Weeks of Declines, Mortgage Interest Rates Rise
WASHINGTON – Sept. 21, 2017 – Average long-term mortgage rates rose this week in Freddie Mac's weekly Primary Mortgage Market Survey. It's the first time the average 30-year fixed mortgage rate increased in seven weeks:
The 30-year fixed-rate mortgage (FRM) averaged 3.83 percent with an average 0.5 point, up from last week when it averaged 3.78 percent. A year ago, the 30-year FRM averaged 3.48 percent.
The 15-year FRM this week averaged 3.13 percent with an average 0.5 point, up from last week when it averaged 3.08 percent. A year ago, the 15-year FRM averaged 2.76 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.17 percent this week with an average 0.4 point, up from last week when it averaged 3.13 percent. A year ago, the 5-year ARM averaged 2.80 percent.
"The 10-year Treasury yield continued its upward trend, rising 7 basis points this week," says Sean Becketti, chief economist, Freddie Mac. "As we expected, the 30-year mortgage rate followed suit, increasing 5 basis points to 3.83 percent. This week's uptick in the 30-year mortgage rate ends a nearly two-month streak of declines."
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