Mortgage rates post second week of gains

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Inman Connect San Francisco, Jul 16-20, 2018

Editor's note: This story has been revised to note that rates on one-year Treasury-indexed adjustable-rate mortgages hit a new low during the week ending Aug. 9. Mortgage rates have moved higher off of record lows for the second consecutive week amid signs that the U.S. job market is stabilizing, according to a weekly survey by Freddie Mac.For 30-year fixed-rate mortgages, rates averaged 3.59 percent with an average 0.6 point for the week ending Aug. 9, up from 3.55 percent last week but down from 4.32 percent a year ago, according to Freddie Mac's Primary Mortgage Market Survey. Rates on 30-year fixed-rate mortgages hit an all-time low in Freddie Mac records dating to 1971 when they fell to 3.49 percent during the week ending July 26.Rates on 15-year fixed-rate mortgages averaged 2.84 percent with an average 0.6 point, up from 2.83 percent last week but down from 3.5 percent a year ago. Rates on 15-year fixed-rate mortgages hit a low in records dating to 1991 of 2.8 percent during the...