Freddie Mac: Mortgage rates increase for first time in weeks


Mortgage rates increased for the first time in several weeks, but they may not stay up for long if the recent drop in the Treasury yield sticks.

“The 30-year mortgage rate rose two basis points over the week to 3.91%,” Freddie Mac Chief Economist Sean Becketti said. “However, our survey was conducted before investors drove Treasury yields sharply lower in a reaction to the surprisingly weak CPI release.”

“If that drop in yields sticks, mortgage rates are likely to follow in next week’s survey,” Becketti said.

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(Source: Freddie Mac)

The 30-year fixed rate mortgage increased to 3.91% for the week ending June 15, 2017. This is an increase from last week’s 3.89% and from last year’s 3.54%.

The 15-year FRM also showed a slight increase from last week’s 3.16% to 3.18%. This is also up from 2.81% last year.

The five-year Treasury-indexed hybrid adjustable-rate mortgage increased to 3.15%. This is up from 3.11% last week and 2.74% last year.

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