Mortgage Rates Rose Pre-Election

Washington, DC, November 10, 2016—This week's survey reflects pre-election market conditions. The 30-year mortgage rate increased to 3.57%, only three basis points higher than last week's level.

On Wednesday, the 10-year Treasury yield closed above 2%, about 25 basis points higher than its pre-election value and its highest yield since January. At this point, it is too soon to tell whether Treasuries will hold this new level or if the mortgage rate will increase as much over the coming week.

* 30-year fixed-rate mortgage (FRM) averaged 3.57% with an average 0.5 point for the week ending November 10, up from last week when it averaged 3.54%. A year ago at this time, the 30-year FRM averaged 3.98%.

* 15-year FRM this week averaged 2.88% with an average 0.5 point, up from last week when it averaged 2.84%. A year ago at this time, the 15-year FRM averaged 3.20%.

* 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.88% this week with an average 0.4 point, up from last week when it averaged 2.87%. A year ago, the 5-year ARM averaged 3.03%.