RESIDENTIAL | LOANS | RATES

Mortgage Rates Rise

30-year fixed at 12-week high

“The outlook for a favorable resolution to the trade dispute between the U.S. and China is still unclear, introducing some volatility into financial markets and the benchmark 10-year Treasury yield,” said Sam Khater, Freddie Mac’s Chief Economist. “Mortgage rates are following suit but are at near historic lows, while mortgage applications to purchase a home remain higher year over year.”

With that, Freddie Mac reports the following national averages with mortgage rates for the week ending October 24:

30-year fixed-rate mortgages

• Averaged 3.75%, with an average 0.5 point
• Up 0.06% from last week’s 3.69% average
• One year ago, the 30-year rate average was 4.86%

15-year fixed-rate mortgages

• Averaged 3.18%, with an average 0.5 point
• 0.03% more than the 3.15% average last week
• This week in 2018, 15-year fixed averaged 4.29%

5-year hybrid adjustable-rate mortgages

• Averaged 3.40%, with an average 0.3 point
• Rising 0.05% from last week’s 3.35% average
• Last year at this time, 5-year ARMs were 4.14% on average

Reference: Freddie Mac