Mortgage rates for a 30-year FRM reached 4.47% with an average 0.5 point this week, their highest of the year so far
Mortgage rates for a 30-year FRM reached 4.47% with an average 0.5 point this week, their highest of the year so far.
The rise, reported in Freddie Mac’s Primary Mortgage Survey, was up from 4.42% a week ago and from 3.97% a year ago.
For a 15-year FRM, the average was 3.94% with an average 0.4 point, up from 3.87% last week and from 3.23% a year ago.
For a 5-year ARM, the average was 3.67% with an average 0.3 point, up from 3.61% last week and from 3.10% a year ago.
“It is important to note that the weekly rate we report is an average and the actual rate obtained by a borrower may be different,” said Len Kiefer, Deputy Chief Economist, Freddie Mac.
“Treasury yields rose ahead of the release of the Fed’s Beige Book and speeches from New York Fed President William Dudley and Fed Governor Randal Quarles,” he added. “According to the Beige Book, economic activity in March and early April continued to expand at a moderate pace, however there is concern from various industries surrounding tariffs. Following Treasurys, mortgage rates soared.”
