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Mortgage rates make highest jump of the year

9/22/2014

 
While mortgage rates are still pretty low, this was the biggest jump of the year. Not that its any surprise. Rates were on the rise this week, and fixed-rates made the biggest one-week leap. This puts them at the highest point since the last week of April. 
Here are the Freddie Mac reports on the national averages with mortgage rates through mid September:
  • 30-year fixed-rate mortgages: averaged 4.23 percent, with an average 0.5 point, rising from last week’s 4.12 percent average. Last year at this time, 30-year rates averaged 4.50 percent.
  • 15-year fixed-rate mortgages: averaged 3.37 percent, with an average 0.5 point, rising from last week’s 3.26 percent average. A year ago, 15-year rates averaged 3.54 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 3.06 percent, with an average 0.5 point, increasing from last week’s 2.99 percent average. Last year at this time, 5-year ARMs averaged 3.11 percent.
  • 1-year ARMs: averaged 2.43 percent, with an average 0.4 point, dropping from last week’s 2.45 percent average. A year ago, 1-year ARMs averaged 2.65 percent.
Source: http://realtormag.realtor.org/daily-news/2014/09/19/mortgage-rates-make-biggest-jump-year?om_rid=AADG1r&om_mid=_BUHIQ$B88isibq&om_ntype=RMODaily

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    Jason Moon Real Estate Broker with ColdWell Banker Bain. Seattle, WA

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     Jason Moon, Licensed with Coldwell Banker Bain, 1200 Westlake Ave N, Suite 406, Seattle WA 98109
Some photos provided by RL5 
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