Mortgage Rates Surge to 2-Year High

Mortgage Rates Surge to 2-Year High.

• 30-year fixed-rate mortgages: averaged 4.58 percent, with an average 0.8 point, rising from last week’s 4.40 percent average. A year ago at this time, 30-year rates averaged 3.66 percent.
• 15-year fixed-rate mortgages: averaged 3.60 percent, with an average 0.7 point, rising from last week’s 3.44 percent. Last year at this time, 15-year rates averaged 2.89 percent.
• 5-year adjustable-rate mortgages: averaged 3.21 percent, with an average 0.5 point, dropping from last week’s 3.23 percent average. Last year at this time, 5-year ARMs averaged 2.80 percent.
• 1-year ARMs: averaged 2.67 percent, with an average 0.5 point, holding the same as last week. A year ago, 1-year ARMs averaged 2.66 percent.

Source: Freddie Mac