Mortgage rates moved slightly higher in reaction to Federal Reserve Board Chair Janet Yellen's Aug. 26 speech, but still remain near their all-time record lows, according to Freddie Mac.
The 30-year fixed-rate mortgage averaged 3.46% for the week ending Sept. 1,
"The 10-year Treasury yield inched up in response to Fed Chair Janet Yellen's speech last Friday then settled near last week's average," said Sean Becketti, chief economist at Freddie Mac.
The 15-year fixed-rate mortgage averaged 2.77%, up from last week when it averaged 2.74%. A year ago at this time it averaged 3.09%.
The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.83%, up from last week when it averaged 2.75%, while a year ago it averaged 2.9%.
