US Mortgage Rates Surge in the Week Ending October 1
Original Source:
Mortgage Rates Average 7.28%
Mortgage Rates Average 7.28%
On Thursday, Freddie Mac released its Primary Mortgage Market Survey for the week ending Thursday, October 1.
The 30-year fixed-rate mortgage averaged 7.28%, up from 7.03% the previous week. A year ago at this time, the 30-year rate averaged 6.34%.
The 15-year fixed-rate mortgage averaged 6.60%, up from 6.42% last week. A year ago at this time, the 15-year rate averaged 5.55%.
Commenting on this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“With mortgage rates on their current trajectory, the housing market continues to be supported by favorable economic conditions.”
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