Mortgage rates have jumped this week — but could they one day fall to zero?

Mortgage

Mortgage rates rose on a weekly basis, even as President Trump called for the Federal Reserve to take its target interest rates negative.

The 30-year fixed-rate mortgage averaged 3.56% during the week ending Sept. 12, rising 7 basis points from the previous week, Freddie Mac FMCC, +7.46% reported Thursday.

The 15-year fixed-rate mortgage jumped 9 basis points to an average of 3.09%, according to Freddie Mac. The 5/1 adjustable-rate mortgage averaged 3.36%, up 6 basis points.

Mortgage rates roughly track the direction of the 10-year Treasury note TMUBMUSD10Y, +0.00% . The yield on the 10-year note has generally fallen since mid-August.

Written by Loknath Das