The benchmark 10-year Treasury yield as of mid-Thursday morning had risen to levels near 2.93% after approaching lows near 2.83% in the week.
The 10-year yield climbed rapidly after the Fed’s statement about its tapering plan, but the move came at the tail end of Freddie’s survey week.
The average rate for 30-year mortgages was as a result only five basis points higher compared to Freddie’s previous survey week at 4.47%. A year ago it was more than 1% lower.
Fifteen-year mortgages during the most recent survey week were eight basis points higher than the previous week at 3.51%. A year ago their rates were on average 86 basis points lower.
The average rate for a five-year Treasury-indexed hybrid mortgage during the week ending Dec. 19 in Freddie’s survey was just two basis points higher than the previous week at 2.96%. A year ago it was 25 basis points lower.
One-year Treasury ARMs in Freddie’s latest survey were up six basis points from the previous week at 2.57% and just five basis points higher than one year ago.