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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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Robert Paul

Robert is a realtor in Bedford NY. He has been successfully working with buyers and sellers for years. His local area of expertise includes Bedford, Pound Ridge, Armonk, Lewisboro, Chappaqua and Katonah. When you have a local real estate question please call 914-325-5758.

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