Mortgage Rates Rise to Near Pre-Brexit Levels


By Glenn McCullom
Rates for the 30-year conforming fixed-rate mortgage rose above 3.5% for the first-time since before the Brexit vote, according to Freddie Mac.
The 30-year fixed-rate mortgage averaged 3.52% for the week ending Oct. 20, up from last week when it averaged 3.47%. A year ago at this time, the 30-year fixed-rate mortgage averaged 3.79%.
“The 30-year fixed-rate mortgage moved a solid 5 basis points while the 10-year Treasury yield remained relatively flat. This month, mortgage rates seem to be catching up to Treasury yields and returning to pre-Brexit levels,” said Sean Becketti, chief economist at Freddie Mac.
Apply For VA Home Loan Now!
The last time the conforming 30-year FRM was over 3.5% was for the week of June 23, before the Brexit vote took place, when it averaged 3.56%.
The 15-year fixed-rate mortgage averaged 2.79%, up from last week when it averaged 2.76%. A year ago at this time, the 15-year averaged 2.98%.
The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.85%, up from last week when it averaged 2.82%, while a year ago it averaged 2.89%.


We See The World From All Sides and Want YOU To Be Fully Informed
In fact, intentional disinformation is a disgraceful scourge in media today. So to assuage any possible errant incorrect information posted herein, we strongly encourage you to seek corroboration from other non-VT sources before forming an educated opinion.

About VT - Policies & Disclosures - Comment Policy
Due to the nature of uncensored content posted by VT's fully independent international writers, VT cannot guarantee absolute validity. All content is owned by the author exclusively. Expressed opinions are NOT necessarily the views of VT, other authors, affiliates, advertisers, sponsors, partners, or technicians. Some content may be satirical in nature. All images are the full responsibility of the article author and NOT VT.
Previous articleWhere do the presidential candidates stand on veterans’ issues?
Next articlePanicking over personal finance? Here are some ideas.