The average for the 30-year fixed-rate mortgage this week topped 4% for the first time since 2015 as 10-year Treasury yields continued their post-election climb, according to Freddie Mac.
The 30-year fixed-rate mortgage increased to an average of 4.03% for the week ending Nov. 23,
"In a short week leading up to the Thanksgiving holiday, the 10-year Treasury yield rose 8 basis points. The 30-year mortgage rate followed suit, rising 9 basis points," said Sean Becketti, chief economist at Freddie Mac.
The 15-year fixed-rate mortgage averaged 3.25%, up from last week when it averaged 3.14%. A year ago at this time, the 15-year averaged 3.18%.
The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.12%, up from last week when it averaged 3.07%, while a year ago it averaged 3.01%.
