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UPDATE 1-U.S. 30-year mortgage rates rise from November low -Freddie Mac
July 6, 2017 / 3:12 PM / 5 months ago

UPDATE 1-U.S. 30-year mortgage rates rise from November low -Freddie Mac

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    NEW YORK, July 6 (Reuters) - Interest rates on U.S. 30-year
mortgages jumped this week from their lowest levels in more than
seven months, in line with a recent rise in U.S. Treasury
yields, Freddie Mac said on Thursday.
    The borrowing cost on 30-year mortgages, the most widely
held type of U.S. home loan, averaged 3.96 percent in the week
ending July 6. Last week, the average 30-year rate was 3.88
percent, which was the lowest since 3.57 percent in the Nov. 10,
2016 week, the mortgage finance agency said.
    This marked the largest weekly increase in 30-year mortgage
rates since March, Freddie Mac said.
    Global bond yields have risen on concerns overseas central
banks are considering scaling back monetary stimulus later this
year if their local economies improve further. 
    Benchmark 10-year Treasury yields reached 2.387
percent early on Thursday, the highest level in nearly eight
weeks. It was last at 2.384 percent, compared with 2.267 percent
a week ago, Reuters data showed.
    Below are the latest average mortgage rates in the week of
July 6 tracked by Freddie Mac:
 Loan type           Latest      Previous    Year-ago
                     week (pct)  week (pct)  (pct)
 30-year fixed             3.96        3.88        3.41
 15-year fixed             3.22        3.17        2.74
 5-year adjustable         3.21        3.17        2.68
 (Reporting by Richard Leong; Editing by Jeffrey Benkoe and Dan

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