Mortgage rates accelerated their rise this past week to levels not seen since last May according to Freddie Mac’s Weekly Survey. The 30 year fixed-rate was at 3.81% (up a substantial 22 basis points on the week) with 0.8% points cost. The 15 year fixed-rate is up to 2.98%, which continues to widen its spread above the 5 year ARM (Adjustable Rate Mortgage.) Have we seen the lows for the year? Current rates are about 1/2 point higher now than the lower rates earlier this year.
Note: Chart above is dynamic and reflects current survey, updated weekly.
For TODAYS’s refinance rates, see below or more lenders at http://moneycafe.com/personal-finance/home-refinance-loans/.