Mortgage rates increased again during the week ended Oct. 12, with the average rate for a 30-year, fixed-rate mortgage (FRM) increasing to 3.91%, up from 3.85% the previous week, according to Freddie Mac’s Primary Mortgage Market Survey.
It was the biggest week-over-week increase for the 30-year FRM since July 2017.
A year ago at this time, the 30-year FRM averaged 3.47%.
The average rate for a 15-year FRM was 3.21%, up from 3.15%. A year ago at this time, the 15-year FRM averaged 2.76%.
The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) was 3.16%, down from 3.18%. A year ago at this time, the five-year ARM averaged 2.82%.
The 10-year Treasury yield also rose this week, climbing four basis points.