After some straight declines for a few weeks, mortgage rates have started marching up one more time. When I observed the 30- year fixed are a mortgage, benchmark rate rose to 4.27 percent in the current week. This was earlier at 4.25 percent, and that was a few weeks back. These numbers are based on the latest survey, which was led among largest mortgage lenders in a nation called Bankrate’s survey. Even in 2018, we have observed the highest rate, that was 4.27 percent for 30 year fixed rate mortgages.
But before that, it was observed to be 4.80 percent. This was also almost a year ago, and just before this survey that is before a few weeks, the rate was 4.36 %. So, the average for the current week is 0.83 % points, and that is for 30 years fixed rate mortgage. This was below 5.10 %, which is 52- week high. This lies above 0.10 % points, which are 52- week low of the 4.27 %.
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