Fixed interest rates on single-family loans increased over the past week, and it is unlikely that they will retreat over the next week.

For the seven-day period that concluded on Oct. 5, thirty-year fixed rates averaged 3.85 percent in Freddie Mac’s Primary Mortgage Market Survey.

That turned out to be 2 basis points more than in the preceding week. Compared to the same week last year, the 30 year has soared 43 BPS.

Source: Mortgage Daily