Mortgage Rates Set New High for 2015

Mortgage Rates Set New High for 2015

Fixed-rate mortgages were back on the rise again this week, with the 30-year fixed-rate mortgage rising above the 4 percent average for the first time in nearly a year, Freddie Mac reports in its weekly mortgage market survey.

 

“Mortgage rates rose above 4 percent for the first time since November 2014 as Treasury yields surged,” says Len Kiefer, deputy chief economist at Freddie Mac. “Markets are responding to strong employment data. In May, the U.S. economy added 280,000 jobs. Moreover, job openings surged to 5.4 million in April, up over 20 percent from a year ago.”

Freddie Mac reports the following national averages with mortgage rates for the week ending June 11:

  • 30-year fixed-rate mortgages: averaged 4.04 percent, with an average 0.6 point, rising from last week’s 3.87 percent average. Last year at this time, 30-year rates averaged 4.20 percent.
  • 15-year fixed-rate mortgages: averaged 3.25 percent, with an average 0.6 point, rising from last week’s 3.08 percent average. A year ago, 15-year rates averaged 3.31 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 3.01 percent, with an average 0.4 point, rising from last week’s 2.96 percent average. Last year at this time, 5-year ARMs averaged 3.05 percent.
  • 1-year ARMs: averaged 2.53 percent, with an average 0.2 point, dropping from last week’s 2.59 percent average. A year ago, 1-year ARMs averaged 2.40 percent.

Source: Freddie Mac

 

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Sabrina Caton - The Caton Team Realtors

Sabrina is a native Californian born and raised in the Silicon Valley with a passion for Residential Real Estate. Partnered with her mother-in-law Susan - they are The Caton Team. With over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time. Call | Text at: 650-799-4333 | Email Info@TheCatonTeam.com The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true. The Peninsula is our backyard - let us help make it yours. We represent Buyer’s and Seller’s throughout the Bay Area. The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?

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