- The average 30-year fixed mortgage rate rose for the first time in seven weeks, according to the latest weekly survey from Freddie Mac.
- The 30-year fixed-rate mortgage averaged 3.83% for the week ending September 21, 2017, rising from last week’s 3.78%, and the 15-year fixed averaged 3.13%, up from 3.08% a week ago; last year at this time, the 30-year and 15-year fixed rates averaged a respective 3.48% and 2.76%.
- Higher mortgage rates had been expected following a spike in 10-year Treasury yields.
Source: Seeking Alpha, Carl Surran, SA News Editor, September 21, 2017.
Note: If you are considering selling a property and carrying the note, and your buyer or the property can’t qualify for a traditional mortgage loan, you may want to negotiate a higher interest rate than prime bank borrowers are getting.