Mortgage Rates at Record Not Seen Since Spring 2011

The average 30-year, fixed mortgage rate rocketed to 4.72 percent this week, at a record not seen since spring 2011, according to Freddie Mac’s latest Primary Mortgage Market Survey® (PMMS®). The average 15-year, fixed mortgage rate rose to 4.16 percent, while the average five-year, Treasury-indexed hybrid adjustable mortgage rate shot to 3.97 percent. Last week, the rates were 4.65 percent, 4.16 percent and 3.92 percent, respectively.
The cause of the jump? According to the Case-S