Mortgage rates rise in the US
In the US, the 30-year mortgage interest rate has risen for the fifth consecutive week due to ongoing market and geopolitical uncertainties.
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
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