Mortgage Rate Increasehypothecation increase
03% last year, according to the study.
15-year-old FRM dropped to an annual mean of 4.02% this weekend, down from an annual mean of 3.99% last week. 15-year-old FRM is now on track for the next week's mean fall. At this point last year, the 15-year-old FRM stood at 3.29%. A five-year, Treasury-indexed, variable-rate hybride mortgage with variable interest rates averaging 3.86% this weekend compared with 3.74% last weekend and 3.28% last year.
FreeDie Mac: Mortgages interest rate to rise in third successive weeks in | 2018-09-13-13
According to Freddie Mac's latest Primary Mortgage Market poll, mortgage interest rose for the third year in a row. Sam Khater, Freddie Mac's chief economist, said the sharp rise in jobs and loans to consumers brought mortgage interest to its highest level since the second of August. The Primary Mortgage Market poll showed that the 30-year fixed-rate mortgage for the month ended September 6, 2018 was 4.6% on average, an increase of 4.54% on last week's figure and still well above last year's 3.78%.
The Weekly Mortgage Application Survey of the Mortgage Bankers Association this weekend showed that the number of mortgage requests dropped by 1.8% compared to last weekend for the period ending September 7, 2018. 15-year-old FRM stood at an average of 4.06% this past weekend, up from 3.99% last weekend. Floating rate 5 year mortgage hybrids stayed at 3.93% this weekend, still higher than last year's 3.13% at the end of the year.
Mortgages are going up for the third even weeks
The mortgage rate rose for the third time in a row during the September 13th weekend and jumped to a levels not reached in more than a month, according to the Primary Mortgage Market Survey published by Freddie Mac. A 30-year term fixed-rate mortgage averaged 4.6%, up 0.5 points on the 4.54% historical averaging.
Recent averages also show an increase of 3.78% over the prior year one. A 15-year fixed-rate mortgage averages 4.06%, averaging 0.5 points, compared with 3.99%. One year ago at that point, the mortgage stood at an annual rate of 3.08% on 24 June. Interest on the 5-year Treasury Induced Hybride Floating Rate Mortgage (ARM) was 3.93% on 3 July, averaging 0.3 points, the same as the year before.
During the same time frame, the 5-year ARM in 2017 was 3.13% on average.
Mortgage interest may also rise, however. Mr Khater noted that the Federal Reserve will consider raising interest Rates this week and at upcoming get-togethers.