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Average mortgage rates surge again, hit highest point since 2010
September 20th, 2018 10:07 PM
Mortgage rates increased 5 basis points this week, up for the fourth week in a row with momentum building for further hikes, according to Freddie Mac.

The 30-year fixed-rate mortgage averaged 4.65% for the week ending Sept. 20, up from last week when it averaged 4.6%. In the past two weeks, this rate has increased 11 basis points and is at its highest level since June 2010. A year ago at this time, the 30-year fixed-rate mortgage averaged 3.83%.

From my records, in 2009, 30 yr fixed reached 5%; And in 2007, it even reached 5.875%. And in 2006, it reached 6.5%.

And in 2005, 5/1 ARM rate was around 5%. 

So we might still have 1% room for the rate to go up..... 


Posted in:General
Posted by Eric Fang on September 20th, 2018 10:07 PMPost a Comment

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