According to data released by the Federal Home Loan Mortgage Corporation (Freddie Mac) in the US, the average 30-year fixed-rate mortgage rose by 8 basis points to 7.57 percent for the week ending October 12.
Freddie Mac's weekly report on mortgage rates is based on applications received from lenders nationwide.
The 30-year interest rate is 0.65 points higher than the same week last year. While the average interest rate for the last 4 weeks was 7.39 percent, the 52-week average was determined to be 6.68 percent. The 30-year interest rate is at its highest level since 2000.
The 15-year fixed-rate mortgage rose by 11 basis points to 6.89 percent. The 15-year rate was 0.80 points higher than the same week last year. While the 4-week average of the interest rate was 6.73 percent, the 52-week average was 5.98 percent.
News Source: 12punto
