Home Mortgage Rates Climb in Bedford NY | Bedford NY Real Estate

Home-mortgage rates climbed this week, with the average rate on the 30-year fixed-rate mortgage at its highest since the end of June, according to Freddie Mac’s weekly survey of conforming mortgages, released on Thursday.

Rates on the 30-year mortgage averaged 4.61% for the week ended Dec. 9, up from 4.46% last week. It is the fourth week in a row that the mortgage rate rose; it averaged 4.81% a year ago.

“Interest rates for 30-year fixed mortgages are now almost a half percentage point higher than the record low set in mid-October, which for a $200,000 conventional loan amounts to $50 more in monthly payments,” said Frank Nothaft, chief economist, Freddie Mac, in a news release.

Fifteen-year fixed-rate mortgages also rose this week, averaging 3.96%, up from last week’s 3.81%, according to the survey. The mortgage averaged 4.32% a year ago.

Meanwhile, adjustable-rate mortgages also moved higher, with the five-year Treasury-indexed hybrid adjustable-rate mortgage averaging 3.6% this week, up from 3.49% last week. The ARM averaged 4.26% a year ago. And one-year Treasury-indexed ARMs averaged 3.27%, up from 3.25% last week. The ARM averaged 4.24% a year ago.

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