US mortgage interest rates increased slightly on Tuesday as capital markets opted for safe investments again. The majority of lenders, including US Bancorp and Citigroup Inc increased their lending rates, while JPMorgan Chase & Co and Bank of America (BofA) lowered their interest rates.
The average interest rate for 30-year fixed-rate mortgages (FRM) climbed by one basis point to 3.668 percent. At the same time, the gap between the 30-year loan rate and 10-year bond yield increased four basis points to 2.018 percent.
Aside from that, the average rate for 30-year fixed-rate mortgages backed by the Federal Housing Administration (FHA) inched up three basis points to 4.201 percent; while the average loan rate for mortgages guaranteed by the US Department of Veteran Affairs (VA) climbed by less than one basis point.
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