Mortgage Rate Update 7/10/17

Last week the planet saw interest rates rise, and the United States followed. They saw a slight jump in the 10-year Treasury. It rose 10 basis points while interest rates across the globe rose quickly. 

The 30-year fixed rate mortgage rose to 3.96% for the week ending July 6th, 2017. That’s quite a jump considering the average of the prior week was 3.88%, which is 8 basis points. This time last year the rate was 3.41%, so yes that is still a remarkable jump. 

The 15-year fixed rate mortgage also increased to 3.22% for the week. The week prior it held at a stead 3.17%, and up from last year’s 2.74%. 

The five-year Treasury Indexed hybrid adjustable rate mortgage rose to 3.21%. Last week it was at 3.17%, and the year before it was 2.68%. 

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