\n<\/div><\/div>\n<\/div>\n<\/div>\n

By Kerry Smith<\/div><\/div>\n

After weeks of little movement in the 2.88% range, the average 30-year, fixed-rate mortgage rose to 3.01% this week. Economist cites \u201cmany factors\u201d pushing the increase.<\/span><\/span><\/p>\n<\/div>\n

MCLEAN, Va. \u2013 The average 30-year, fixed-rate mortgage has fluctuated little over the past few months, hovering somewhere around the 2.88% range. However, it rose to 3.01% this week, breaking the psychological 3% barrier.<\/span><\/span><\/p>\n

\u201cMortgage rates rose across all loan types this week as the 10-year U.S. Treasury yield reached its highest point since June,\u201d says Sam Khater, Freddie Mac\u2019s chief economist. \u201cMany factors led to this increase, including the Federal Reserve communicating that it will taper its support of the capital markets, the broadening of inflation and emerging energy supply shortages, which compound other labor and materials shortages.\u201d<\/span><\/span><\/p>\n

The Federal Reserve Board decision might have a longer-term impact. At its September meeting, the Fed suggested it would cut down on its number of bond buys, done to stimulate the economy. Since July 2021, the Fed has been buying $80 billion in Treasury securities and $40 billion in mortgage-backed securities (MBS) each month. The cutback in mortgage securities could push rates higher over time.<\/span><\/span><\/p>\n

\u201cWe expect mortgage rates to continue to rise modestly, which will likely have an impact on home prices, causing them to moderate slightly after increasing over the last year,\u201d Khater adds.<\/span><\/span><\/p>\n

Average mortgage rates for the week of Sept. 30, 2021<\/span><\/span><\/h3>\n
\n
The 30-year fixed-rate mortgage averaged 3.01% with an average 0.7 point, up from last week\u2019s 2.88%. A year ago, the 30-year FRM averaged 2.88%.<\/span><\/span><\/li>\n
The 15-year fixed-rate mortgage averaged 2.28% with an average 0.6 point, up from last week\u2019s averaged 2.15%. A year ago, the 15-year FRM averaged 2.36%.<\/span><\/span><\/li>\n
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.48% with an average 0.3 point, up from last week\u2019s 2.43%. A year ago, the 5-year ARM averaged 2.90%.<\/span><\/span><\/li>\n<\/ul>\n
\u00a9 2021 Florida Realtors\u00ae<\/span><\/span><\/p>\n<\/div><\/div>\n
Go to Source<\/a>
\nAuthor: kerrys<\/p>\n","protected":false},"excerpt":{"rendered":"
By Kerry Smith After weeks of little movement in the 2.88% range, the average 30-year, fixed-rate mortgage rose to 3.01% this week. Economist cites \u201cmany factors\u201d pushing the increase. MCLEAN, Va. \u2013 The average 30-year, fixed-rate mortgage has fluctuated little over the past few months, hovering somewhere around the 2.88% range. However, it rose to 3.01% this week, breaking the psychological 3% barrier. \u201cMortgage rates rose across all loan types this week as the 10-year U.S. Treasury yield reached its highest point since June,\u201d says Sam Khater, Freddie Mac\u2019s chief economist. \u201cMany factors led to this increase, including the Federal Reserve communicating that it will taper its support of the capital markets, the broadening of inflation and emerging energy supply shortages, which compound other labor and materials shortages.\u201d The Federal Reserve Board decision might have a longer-term impact. At its September meeting, the Fed suggested it would cut down on its number of bond buys, done to stimulate the economy. Since July 2021, the Fed has been buying $80 billion in Treasury securities and $40 billion in mortgage-backed securities (MBS) each month. The cutback in mortgage securities could push rates higher over time. \u201cWe expect mortgage rates to continue to rise modestly, which will likely have an impact on home prices, causing them to moderate slightly after increasing over the last year,\u201d Khater adds. Average mortgage rates for the week of Sept. 30, 2021 The 30-year fixed-rate mortgage averaged 3.01% with an average 0.7 point, up from last week\u2019s 2.88%. A year ago, the 30-year FRM averaged 2.88%. The 15-year fixed-rate mortgage averaged 2.28% with an average 0.6 point, up from last week\u2019s averaged 2.15%. A year ago, the 15-year FRM averaged 2.36%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.48% with an average 0.3 point, up from last week\u2019s 2.43%. A year ago, the 5-year ARM averaged 2.90%. \u00a9 2021 Florida Realtors\u00ae Go to Source Author: kerrys<\/p>\n","protected":false},"author":4,"featured_media":5648,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/5647"}],"collection":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/comments?post=5647"}],"version-history":[{"count":0,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/5647\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media\/5648"}],"wp:attachment":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media?parent=5647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/categories?post=5647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/tags?post=5647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}