Mortgage Daily Logo
mortgage news from industry experts

Fixed and ARM Mortgage Rates Rise

Across the board, interest rates on residential loans moved higher this past week. Also rising were indices on adjustable-rate mortgages.

Freddie Mac reported in its Primary Mortgage Market Survey for the week ended Aug. 2 that 30-year fixed rates on single-family loans averaged 4.60 percent.

Long-term mortgage rates rose 6 basis points compared to the preceding seven-day period, while they have soared 67 BPS from the same week last year.

Mortgage Daily’s analysis of Treasury market activity suggests fixed mortgage rates won’t be much different in Freddie’s next survey.

A plurality of panelists surveyed by for the week Aug. 1 to Aug. 7 predicted mortgage rates will rise at least 3 BPS over the next week. The remaining 58 percent were evenly split over whether rates would fall or remain where they were.

Jumbo rates were
18 BPS more than conforming rates in the U.S. Mortgage Market Index from Mortgage Daily and OpenClose for the week ended July 27, widening from 11 BPS the previous week.

At 4.08 percent, fifteen-year fixed rates were 6 BPS more than in Freddie survey for the week ended July 26. The spread between 15- and 30-year rates remained at 52 BPS.

Freddie reported that five-year, Treasury-indexed, hybrid ARMs averaged 3.93 percent, 6 BPS more than in last week’s survey.

Hybrid ARMs adjust based on the one-year Treasury note yield, which closed Thursday at 2.45 percent, the Treasury Department reported. The one-year yield was up from 2.41 seven days earlier. reported the six-month London Interbank Offered Rate at 2.53 percent as of Wednesday, up a basis point from the preceding Wednesday.

The Federal Reserve Bank of New York reported the Secured Overnight Financing Rate at
1.88 percent as of Wednesday, up from 1.87 percent seven days earlier.

The 11th District Cost of Funds Index was reported by the Federal Home Loan Bank of San Francisco at 0.934 percent for June, up from 0.885 percent a month earlier.

ARM share was
18.8 percent in the latest Mortgage Market Index report, widening from 15.1 percent the prior week.

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...


Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts