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December 8, 2016

Mortgage rates soar to fresh 2016 high, Freddie Mac says

Alaric Securities

Rates for home loans rose for the sixth week in a row, mortgage finance provider Freddie Mac said Thursday.

Mortgage Rates

The 30-year fixed-rate mortgage averaged 4.13% in the Dec. 8 week, up five basis points during the week. The 15-year fixed-rate mortgage averaged 3.36%, up from 3.34% in the prior week. Both are at 2016 highs.

 The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.17%, up two basis points.

Mortgage rates loosely track the benchmark 10-Year Treasury yield TMUBMUSD10Y, +2.32% but move more slowly and within a narrower range. The 10-year slipped this week following the release of the Labor Department’s job openings report, but mortgage rates kept climbing, Freddie noted in a release.

Article and media originally published by Andrea Riquier at