US Mortgage Rates Rise in the Week Ending October 2

On Thursday, Freddie Mac released its Primary Mortgage Market Survey for the week ending Thursday, October 2.

The 30-year fixed-rate mortgage averaged 6.34%, up from 6.30% the previous week. A year ago at this time, the 30-year rate averaged 6.12%.

The 15-year fixed-rate mortgage averaged 5.55%, rising from 5.49% last week. A year ago at this time, the 15-year rate averaged 5.25%.

Commenting on this week’s survey, Freddie Mac Chief Economist Sam Khater said:

“The 30-year fixed-rate mortgage increased again this week but remains below its 52-week average of 6.71%. The last few months have brought lower rates and as indicated by the recently reported increase in pending home sales, homebuyers are feeling more confident to get into the market.”