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Rates tick up

By Charlie & Kathy Musarra & Renken

Real Estate Sales Representative with HomeSmart Fine Homes and Land

October 03, 2007 04:12 PM

Rates Tick Up

In Freddie Mac's results of its Primary Mortgage Market Survey the 30-year fixed-rate mortgage (FRM) averaged 6.42 percent for the week ending September 27, 2007, up from the previous week when it averaged 6.34 percent.
"Consistent with the direction of 10-year Treasury securities, average rates on 30-year fixed-rate mortgages drifted up in the past week to levels close to those at the beginning of the month," said Frank Nothaft, Freddie Mac vice president.

Mortgage Rates

Source: Realty Times

U.S. averages as of September 27, 2007:

30 yr. fixed:   6.42%
15 yr. fixed:   6.09%
1 yr. adj:        5.60%

Also tracking short-term Treasury notes, average rates on 1-year adjustable-rate mortgages (ARMs) dropped by 5-hundredth of a percent.

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