General World News

Mortgage rates see sizable increase

The average 30-year fixed rate mortgage increased to 3.45% during the week ending Jan. 13, up from 3.22% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed rate mortgage averaged 2.79%.

The 15-year fixed rate mortgage averaged 2.62% last week, up from 2.43% the week prior. A year ago at this time, it averaged 2.23%. Mortgage rates tend to move in concert with the 10-year Treasury yield, which reached 1.74% on Wednesday, up from 1.71% a week before.

This is the third week of mortgage rate increases, after the 30-year details ⇒

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