Freddie Mac’s most recent Primary Mortgage Market Survey shows average fixed mortgage rates moving higher, with the average 30-year fixed-rate mortgage topping 4 percent for the first time since 2015.
“In a short week leading up to the Thanksgiving holiday, the 10-year Treasury yield rose 8 basis points,” says Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate followed suit, rising 9 basis points to 4.03 percent. This increase marks the first week since 2015 that mortgage rates have risen above 4 percent.”
Here, a snapshot of Freddie Mac’s survey findings:
• The 30-year fixed-rate mortgage averaged 4.03 percent, with an average 0.5 point for the week ending Nov. 23, up from the previous week when it averaged 3.94 percent. A year ago at this time, the 30-year fixed-rate mortgage averaged 3.95 percent.
• The 15-year fixed-rate mortgage averaged 3.25 percent, with an average 0.5 point, up from the previous week when it averaged 3.14 percent. A year ago at this time, the 15-year fixed-rate mortgage averaged 3.18 percent.
• The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.12 percent, with an average 0.4 point, up from the previous week when it averaged 3.07 percent. A year ago, the five-year adjustable-rate mortgage averaged 3.01 percent.
