Mortgage rates mostly held at last week’s year-to-date lows, offering another opportunity for borrowers to take advantage of savings.
“Following a sharp decline last week, the 10-year Treasury yield rose 11 basis points this week,” says Freddie Mac chief economist Sean Becketti. “The 30-year mortgage rate, however, remained unchanged at 3.78 percent. If Treasury yields continue to rise, mortgage rates could see an increase in next week’s survey.”
Freddie Mac reports the following national averages for mortgage rates for the week ending Sept. 14:
- 30-year fixed-rate mortgages: averaged 3.78 percent, with an average 0.5 point, holding the same average as last week. Last year at this time, 30-year rates averaged 3.50 percent.
- 15-year fixed-rate mortgages: averaged 3.08 percent, with an average 0.5, the same average as last week. A year ago, 15-year rates averaged 2.77 percent.
- 5-year hybrid adjustable-rate mortgages: averaged 3.13 percent this week, with an average 0.4 point, down slightly from last week’s 3.15 percent average. A year ago, 5-year ARMs averaged 2.82 percent.
Source: Freddie Mac
