Mortgage Rates

Mortgage Rates


Mortgage rates slightly higher to end year

Fixed mortgage rates moved slightly higher this week, closing out the year with their ninth straight increase. After jumping 14 basis points — a basis point is 0.01 percentage point — last week, the 30-year fixed rate, the most popular mortgage product, had a more modest increase this week. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average ticked up to 4.32 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 4.3 percent a week ago and 4.01 percent a year ago. Since Oct. 27, the 30-year fixed rate has risen 85 basis points. The 15-year fixed-rate average edged up to 3.55 percent with an average 0.5 point. It was 3.52 percent a week ago and 3.24 percent a year ago. The five-year adjustable rate average slipped to 3.3 percent with an average 0.5 point.

 


Darik Steinbach Headshot
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Phone: 952-239-4290
Dated: December 30th 2016
Views: 42
About Darik: I have been selling residential real estate in Minneapolis full time for 10+ years. I constantl...

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