Mortgage rates at highest in four years

Freddie Mac last week released the results of its Primary Mortgage Market Survey, showing average mortgage rates continuing the upward trajectory seen in most of early 2018.  Mortgage rates increased for the third consecutive week, climbing 11 basis points to 4.58 percent, the highest level since the week of Aug. 22, 2013.

News Facts

• 30-year fixed-rate mortgage averaged 4.58 percent with an average 0.5 point for the week ending April 26, 2018, up from last week when it averaged 4.47 percent. A year ago at this time, the 30-year FRM averaged 4.03 percent.
• 15-year FRM this week averaged 4.02 percent with an average 0.4 point, up from last week when it averaged 3.94 percent. A year ago at this time, the 15-year FRM averaged 3.27 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.74 percent this week with an average 0.3 point, up from last week when it averaged 3.67 percent. A year ago at this time, the 5-year ARM averaged 3.12 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.