The 30-year fixed-rate mortgage is nearing 4 percent, but still remains well below its average from this time a year ago.
“After dipping slightly last week, Treasury yields surged this week amid sell-offs in the bond market,” says Len Kiefer, Freddie Mac’s deputy chief economist. “The 10-year Treasury yield, for instance, reached its highest point since March of last year. Mortgage rates followed Treasury yields and ticked up modestly across the board. The 30-year fixed-rate mortgage averaged 3.99 percent, up 4 basis points from a week ago.”
Freddie Mac reports the following national averages with mortgage rates for the week ending Jan. 11:
- 30-year fixed-rate mortgages: averaged 3.99 percent, with an average 0.5 point, rising from last week’s 3.95 percent average. Last year at this time, 30-year rates averaged 4.12 percent.
- 15-year fixed-rate mortgages: averaged 3.44 percent, with an average 0.5 point, rising from last week’s 3.38 percent average. A year ago, 15-year rates averaged 3.37 percent.
- 5-year hybrid adjustable-rate mortgages: averaged 3.46 percent, with an average 0.4 point, increasing from last week’s 3.45 percent average. A year ago, the 5-year ARM averaged 3.23 percent.
Source: Freddie Mac