Mortgage rates rising, according to HSH.com’s new Wednesday release
by Tim Manni
“Mortgage rates rising,” that’s not a phrase we’re used to hearing.
According to the latest weekly mortgage rate report from HSH.com, rates on two of the most popular types of mortgages rose the week ending October 11.
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HSH.com’s “Weekly Mortgage Rate Radar” reports the average rates and points offered by lenders for the Conforming 30-year fixed-rate mortgage and the Conforming 5/1 adjustable-rate mortgage.
For the week ending October 11, rates rose on both mortgage types, snapping a 10-week streak of record-setting lows:
Conforming 30-year fixed-rate mortgage
- Average rate: 4.18 percent
- Average points: 0.28
Conforming 5/1-year ARM
- Average rate: 3.08 percent
- Average points: 0.22
Average mortgage rates and points for conforming residential mortgages for the previous week ending October 4 were, according to HSH.com:
Conforming 30-year fixed-rate mortgage
- Average rate: 4.11 percent
- Average points: 0.27
Conforming 5/1-year ARM
- Average rate: 3.02 percent
- Average points: 0.22
Methodology
The Weekly Mortgage Rate Radar reports the average rates and points offered on conforming 30-year fixed-rate mortgages and conforming 5/1 ARMs. The weekly mortgage rate survey covers a large sample of mortgage lenders and is conducted over a Wednesday-to-Tuesday cycle, with data released every Wednesday.
HSH.com’s survey helps consumers find the best rates on home loans in changing market conditions. Unlike mortgage rate surveys that report average rates only, the Weekly Mortgage Rate Radar’s inclusion of both average rates and average points provides a more accurate view of mortgage terms currently offered by lenders.
Every week, HSH.com conducts a survey of mortgage rate data for a wide range of consumer mortgage products including ARMs, FHA-backed and jumbo mortgages, as well as home equity loans and lines of credit from hundreds of direct lenders in the U.S. For information on additional loan products, visit HSH.com.
