General World News

Mortgage rates increase to 3.12% as Fed charts new course

The average 30-year-fixed rate mortgage increased to 3.12% during the week ending Dec. 16, up from 3.10% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.67%.

The 15-year-fixed-rate mortgage averaged 2.34% last week, declining from 2.38% the week prior. A year ago, at this time, it averaged 2.21%. Mortgage rates tend to move in concert with the 10-year Treasury yield, which reached 1.47% on Wednesday, down from 1.52% a week before. 

The report is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com