Interest rates on residential loans turned higher this past week. The escalation came despite severe deterioration in monthly employment statistics.
Freddie Mac reported in its Primary Mortgage Market Survey for the week ended Oct. 12 that fixed interest rates on 30-year mortgages averaged 3.91 percent.
Long-term mortgage rates jumped 6 basis points from the preceding seven-day period. The year-over-year increase was more severe at 44 BPS.
Source: Mortgage Daily