In the past week, the average 30-year fixed mortgage rate rose to 3.75 percent, its highest point in 12 weeks, according to Freddie Mac’s latest Primary Mortgage Market Survey® (PMMS®).
“The outlook for a favorable resolution to the trade dispute between the U.S. and China is still unclear, introducing some volatility into financial markets and the benchmark 10-year Treasury yield,” Sam Khater, chief economist at Freddie Mac, says. “Mortgage rates are following suit but are at near-historic lows, while mortgage applications to purchase a home remain higher year-over-year.”
30-Year Fixed
- Averaging 3.75 percent, with an average 0.5 point
- Up from 3.69 percent the prior week, but down from 4.86 percent the prior year
15-Year Fixed
- Averaging 3.18 percent, with an average 0.5 point
- Up from 3.15 percent the prior week, but down from 4.29 percent the prior year
5-Year Adjustable
- Averaging 3.4 percent, with an average 0.3 point
- Up from 3.35 percent the prior week, but down from 4.14 percent the prior year
Source: Freddie Mac
