WASHINGTON–Mortgage rates have hit their highest mark in 2017, and are likely to move higher. According to Freddie Mac, for the week ending March 9:
- The 30-year fixed-rate mortgage (FRM) averaged 4.21% with an average 0.5 point for the week up from one week earlier when it averaged 4.10%. A year ago at the same time, the 30-year FRM averaged 3.68%.
- The 15-year FRM closed the week at 3.42% with an average 0.5 point, up from one week earlier when it averaged 3.32%. One year earlier at the same time the 15-year FRM averaged 2.96%.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.23% with an average 0.4 point, up from one week earlier when it averaged 3.14%. A year ago, the 5-year ARM averaged 2.92%.
"The 10-year Treasury yield rose about 10 basis points this week,” said Sean Becketti, chief economist with Freddie Mac, in a statement. “For the first time in weeks, the 30-year mortgage rate moved with treasury yields and jumped 11 basis points to 4.21%.”