Mortgage Rates Rise on Market Volatility: Freddie Mac

Interest rates on fixed-rate mortgages rose this week as the stock market remained volatile, according to Freddie Mac.

The 30-year fixed-rate mortgage averaged 3.89% for the week ending Sept. 3, according to Freddie Mac's weekly Primary Mortgage Market Survey. That's an increase of five basis points over the 3.84% average from a week ago. On a year-over-year comparison, the rate is down from 4.1%.

The 15-year fixed-rate mortgage averaged 3.09%, up from 3.06% last week, and down from 3.24% a year ago.

The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.93%, up from 2.9% last week, and down from 2.97% a year ago.

At least some of the market volatility is due to uncertainty about the Fed's plans for interest rate hikes, Sean Becketti, chief economist, said in a Thursday news release.

"There won't be a clear direction for mortgage rates until the Fed makes its September decision, at the earliest," Becketti said.