A strong economy and a hot job market is driving up interest rates, according to Freddie Mac’s latest Primary Mortgage Market Survey.
- 30-Year Fixed-Rate Mortgage: Averaged 4.21% with an average 0.5 point for the week ending March 9, 2017, up from last week when it averaged 4.10%. A year ago at this time, the 30-year mortgage averaged 3.68%.
- 15-Year Fixed-Rate Mortgage: Averaged 3.42% with an average 0.5 point, up from last week when it averaged 3.32%. A year ago at this time, the 15-year mortgage averaged 2.96%.
- 5-Year Treasury-Indexed Hybrid Adjustable-Rate Mortgage (ARM): Averaged 3.23% this week with an average 0.4 point, up from last week when it averaged 3.14%. A year ago, the 5-year ARM averaged 2.92%.