Freddie Mac’s most recent Primary Mortgage Market Survey shows average mortgage rates increasing across the board for the first time in more than a month.
“The 30-year mortgage rate rose 2 basis points over the week to 3.91 percent,” says Sean Becketti, Freddie Mac’s chief economist. “However, our survey was conducted before investors drove Treasury yields sharply lower in a reaction to the surprisingly weak CPI release. If that drop in yields sticks, mortgage rates are likely to follow in next week’s survey.”
Here’s a look at Freddie Mac’s survey findings for the week ending June 15:
• The 30-year fixed-rate mortgage averaged 3.91 percent, with an average 0.5 point, up from the previous week when it averaged 3.89 percent. A year ago at this time, the 30-year fixed-rate mortgage averaged 3.54 percent.
• The 15-year fixed-rate mortgage averaged 3.18 percent, with an average 0.5 point, up from the previous week when it averaged 3.16 percent. A year ago at this time, the 15-year fixed-rate mortgage averaged 2.81 percent.
• The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.15 percent, with an average 0.4 point, up from the previous week when it averaged 3.11 percent. A year ago, the five-year adjustable-rate mortgage averaged 2.74 percent.