Update from Freddie Mac - Mortgage rates rose last week for the first time in five weeks.

WASHINGTON, DC

The 30-year fixed-rate mortgage (FRM) averaged 4.03% with an average 0.5 point for the week ending April 27, 2017, which was up from the previous week when it averaged 3.97%. One year earlier the 30-year FRM averaged 3.66%.
The 15-year FRM averaged 3.27% with an average 0.4 point, up from one week earlier when it averaged 3.23%. A year ago at this time the 15-year FRM averaged 2.89%.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.12% with an average 0.4 point, up from one week earlier when it averaged 3.10%. A year ago at this time the 5-year ARM averaged 2.86%.

"The 10-year Treasury yield rose about 10 basis points this week,” said Sean Becketti, chief economist, Freddie Mac, in a statement. “The 30-year mortgage rate moved with Treasury yields, rising 6 basis points to 4.03%. Despite recent swings in mortgage rates, the housing market continues to show signs of strength -- both existing and new home sales in March exceeded expectations, and the Case-Shiller Home Price Index posted another solid gain."

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