Current Mortgage interest Rates 30 year FixedShort-term mortgage interest rates 30 years Fixed
FreeDie Mac: Mortgages reach highest interest rate since March 2017 | 25.01.2018
Mortgages rates resumed their continuous rise last weekend, reaching their highest levels since March 2017, as Freddie Mac's latest Primary Mortgage Market Survey shows. The Freddie Mac paper, published on Thursday mornings, shows that the 30-year fixed-rate mortgage has risen to an interest of 4.15% on a weekly basis on 25 January 2018.
This is an increase of 11 bps over last weeks when interest rates reached 4.04%. It was also last weekend that interest rates rose by 4% for the first consecutive month since July 2017. Freddie Mac's chief economist Len Kiefer says it looks as if interest rates will not fall below 4% in the near-term.
A year ago at that point, the 30-year fixed-rate mortgage stood at an average of 4.19%, but as shown in the graph below, mortgage rates have been rising quite steadily since August 2017. Interest rates on the 15-year fixed-rate mortgage and the 5-year treasury-indexed floating interest mortgage also rose last weekend.
Freddie Mac's FRM 15-year-old average this weekend was 3.62% compared to last week's average of 3.49%, according to Freddie Mac's survey. A year ago at that point in the year, the 15-year-old FRM stood at an average of 3.4%. In addition, the 5-year floating interest mortgage was on average 3.52% this weekend, up from 3.46% last weekend.
One year ago, the 5-year ARM was 3.2% on average. Pine said that while interest rates are on the rise, it does not seem to affect home selling, at least not yet.
These programme sceneries are founded on the following assumptions: It is intended to buy a main home with a $160,000 mortgage, an estimate value of $225,000 and a minimum mortgage value of $740. The above interest rates are fixed for 60 days and are governed by the Programme Policies.
Disclosed repayments are only capital and interest repayments on a per month basis. There is no mortgage lending authorization or obligation to grant credit. Rates of interest and annual percentage rates (APR) may differ. Prices are valid from 10 September 2018.