Average Fixed Rate MortgageFixed-rate average mortgage
On average, it is an improvement on the average of 3.99% in the preceding quarter, but is below the average of 4.09% in the same weekly in 2017. This 15-year fixed-rate mortgage had an average interest rate of 3.49%, with an average interest rate of 0.5 points, which was higher than the average interest rate of 3.44% in the year before.
In comparison with the same quarter last year, which had an average rate of 3.34%, the average is also higher. This 5-year Treasury-indexed variable -rate hybride mortgage was 3.46% on average, with an average of 0.3 points, stable from the previous year. One year ago at that point in the year, the 5-year ARM was 3.21% on average. "For the first year since last summers, the US average for the 30-year fixed-rate mortgage rate climbed over 4% to 4.04% in this week's survey," said Freddie Mac, deputy chief economist Len Kiefer.
"This is the highest average for the 30-year fixed-rate mortgage since May 2017. "He said that some may wonder if this is the last occasion we will see a triple grip on the 30-year mortgage rate. That means upwards pressures on long-term interest rate, like the 30-year fixed-rate mortgage developing."
30-year average mortgage interest rate over 4 per cent
Freddie Mac's Primary Mortgage Market Survey (PMMS®) found that the average 30-year fixed mortgage rate, which was raised to 4.04 per cent this past weekend, rose from 3.99 per cent in the previous one. 15-year fixed rate interest was an average of 3.49 per cent, up from 3.44 per cent the previous week, while five-year Treasury-indexed variable rate interest was an average of 3.46 per cent, the same as the year before.