30-Year Mortgage Rates Spike; Biggest Bump Since April 1987

by Categorized: Banks Date:

The average 30-year fixed-mortgage rate spiked nationally to 4.46 percent in the past week — up from 3.93 percent the previous week — the largest weekly increase since mid-April 1987, according to data released Thursday by Freddie Mac.
The 15-year fixed-rate mortgage averaged 3.50 percent in the past week, up from 3.04
The mortgage rates were influenced by an increase in bond yields and indications the Federal Reserve would start cutting back on bond purchases later this year.

The numbers in New England:

This week:
30-year: 4.45 percent
15-year: 3.50 percent

Last week
30-year: 3.95 percent
15-year: 3.06 percent

A year ago
30-year: 3.70 percent
15-year: 2.96 percent

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