According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average climbed to 4.72 percent with an average 0.5 point. Points are fees paid to a lender equal to 1 percent of the loan amount. It was 4.65 percent a week ago and 3.83 percent a year ago.
The 15-year fixed-rate average jumped to 4.16 percent with an average 0.5 point. It was 4.11 percent a week ago and 3.13 percent a year ago. The five-year adjustable rate average rose to 3.97 percent with an average 0.3 point. It was 3.92 percent a week ago and 3.20 percent a year ago.
The article is written by Kathy Orton for The Washington Post. You can read the full article here.
Sheila Abai is a senior mortgage consultant at PNC Bank. She utilizes her 20+ years of finance and mortgage experience to identify the best mortgage and refinancing solutions for her clients. Sheila can be contacted via email at Sheila.Abai@PNC.com or via telephone at 310-666-5959.