ABBA First Mortgage News

Although rates were trending higher last week, we recently saw some improvement

Rates were up across the board in the past week, with 30-year fixed rates approaching the 4.0% mark.  For the week ending October 26, Freddie Mac announced that 30-year fixed rates rose to 3.94% from 3.88% the week before.  The average for 15-year loans rose as well, to 3.25%.  The average for five-year adjustables increased to 3.21%.  A year ago, 30-year fixed rates averaged 3.47%.  Attributed to Sean Becketti, chief economist, Freddie Mac — “The 10-year Treasury yield surged this week, jumping 12 basis points. The 30-year fixed rate followed suit, increasing 6 basis points to 3.94 percent. Today’s survey rate is the highest rate in three months.”

Note: Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.

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