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

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

The average for a 30-year, fixed-rate mortgage moved notably higher this week. Freddie Mac economist blames \u201cthe trajectory of both the economy and the pandemic.\u201d<\/span><\/span><\/p>\n<\/div>\n

MCLEAN, Va. \u2013 The 30-year fixed-rate mortgage (FRM) averaged 3.09%, according to Freddie Mac\u2019s weekly survey. It\u2019s a notable increase from last week\u2019s 3.05% and 2.99% the week before that.<\/span><\/span><\/p>\n

\u201cMortgage rates continued to rise this week due to the trajectory of both the economy and the pandemic,\u201d says Sam Khater, Freddie Mac\u2019s chief economist. \u201cEven as the availability of existing homes is improving, prices remain high due to homebuyer demand and limitations on housing starts and permits resulting from the ongoing labor and material shortages.\u201d<\/span><\/span><\/p>\n

Khater doesn\u2019t see the increase as a problem for the housing market, however. \u201cDespite these countervailing forces, we expect the housing market to remain strong as we head into the end of the year,\u201d he says.<\/span><\/span><\/p>\n

Average mortgage rates for the week of Oct. 21, 2021<\/span><\/span><\/h3>\n
\n
The 30-year fixed-rate mortgage averaged 3.09% with an average 0.7 point for the week, up from last week\u2019s 3.05%. A year ago at this time, it averaged 2.80%.<\/span><\/span><\/li>\n
The 15-year fixed-rate mortgage averaged 2.33% with an average 0.7 point, up from last week\u2019s 2.30%. A year ago, the 15-year FRM averaged 2.33%.<\/span><\/span><\/li>\n
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.54% with an average 0.3 point, down slightly from last week\u2019s 2.55%. A year ago, the 5-year ARM averaged 2.87%.<\/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 The average for a 30-year, fixed-rate mortgage moved notably higher this week. Freddie Mac economist blames \u201cthe trajectory of both the economy and the pandemic.\u201d MCLEAN, Va. \u2013 The 30-year fixed-rate mortgage (FRM) averaged 3.09%, according to Freddie Mac\u2019s weekly survey. It\u2019s a notable increase from last week\u2019s 3.05% and 2.99% the week before that. \u201cMortgage rates continued to rise this week due to the trajectory of both the economy and the pandemic,\u201d says Sam Khater, Freddie Mac\u2019s chief economist. \u201cEven as the availability of existing homes is improving, prices remain high due to homebuyer demand and limitations on housing starts and permits resulting from the ongoing labor and material shortages.\u201d Khater doesn\u2019t see the increase as a problem for the housing market, however. \u201cDespite these countervailing forces, we expect the housing market to remain strong as we head into the end of the year,\u201d he says. Average mortgage rates for the week of Oct. 21, 2021 The 30-year fixed-rate mortgage averaged 3.09% with an average 0.7 point for the week, up from last week\u2019s 3.05%. A year ago at this time, it averaged 2.80%. The 15-year fixed-rate mortgage averaged 2.33% with an average 0.7 point, up from last week\u2019s 2.30%. A year ago, the 15-year FRM averaged 2.33%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.54% with an average 0.3 point, down slightly from last week\u2019s 2.55%. A year ago, the 5-year ARM averaged 2.87%. \u00a9 2021 Florida Realtors\u00ae Go to Source Author: kerrys<\/p>\n","protected":false},"author":4,"featured_media":5736,"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\/5735"}],"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=5735"}],"version-history":[{"count":0,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/5735\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media\/5736"}],"wp:attachment":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media?parent=5735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/categories?post=5735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/tags?post=5735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}