U.S. 30-year mortgage rates rise 7th straight week - Freddie Mac

Cornelia Mascio
Febbraio 23, 2018

The borrowing cost on 30-year mortgages, the most widely held type of US home loan, averaged 4.40 percent in the week ended on February 22, the highest level since April 2014.

For the week ended February 22, the average rate for a 15-year FRM was 3.85%, up from 3.84%.

Mortgage rates closely track the yield on 10-year U.S. Treasury notes, which have climbed to 2.92 percent from 2.46 percent at the start of the year. This rate averaged 3.37 percent at the same time previous year.

The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage was 3.65 percent, up from 3.63 percent.

"Fixed mortgage rates increased for the seventh consecutive week, with the 30-year fixed mortgage rate reaching 4.40 percent in this week's survey; the highest since April of 2014", says Len Kiefer, deputy chief economist for Freddie Mac, in a release. Following the close of our survey, the release of the FOMC minutes for February 21 sent the 10-year Treasury above 2.9 percent. "While rising rates provoke buyer anxiety and decrease affordability, the desire to purchase a home is driven by income and family changes and will likely remain untouched by rising mortgage rates".

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