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News & Press: Industry News

Rates Continue Upward Trend

Tuesday, October 17, 2017  
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Freddie Mac reported higher rates last week in its weekly mortgage market survey. The average 30 year fixed mortgage rate posted it's biggest week over week increase since July 2017. The 30 year fixed rate mortgage rose to 3.91% from last week's 3.85%. A year ago the rate was 3.47%. The 15 year fixed rate averaged 2.76% a year ago, while this last week it was at 3.21%. This was up from last week when it averaged 3.15%. Many economists are predicting that the Fed is poised to raise interest rates in December. If so, the trend in rising rates may be expected to continue.

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
Email:  |  Phone: 916-444-2647  |   Fax: 916-444-2851