Weekly Mortgage Rate Review and Update

Mortgage Rates are on the move this week. The current Freddie Mac survey rate is the highest rate in nearly four months.

The 10-year Treasury yield ticked up 6 basis points, while the 30-year mortgage rate jumped 5 basis points to 3.95 percent.

·       30-year fixed-rate mortgage (FRM) averaged 3.95 percent with an average 0.5 point for the week ending November 16, 2017, up from last week when it averaged 3.90 percent. A year ago at this time, the 30-year FRM averaged 3.94 percent. 

·       15-year FRM this week averaged 3.31 percent with an average 0.5 point, up from last week when it averaged 3.24 percent. A year ago at this time, the 15-year FRM averaged 3.14 percent. 

·       5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.21 percent this week with an average 0.4 point, down from last week when it averaged 3.22 percent. A year ago at this time, the 5-year ARM averaged 3.07 percent.