Mortgage rates continue to rise this past week according to Freddie Mac’s Weekly Survey. The 30 year fixed-rate was at 3.59% (up 8 basis points on the week) with 0.7% points cost. The 15 year fixed-rate is up to 2.77%, which is beginning to widen its spread above the 5 year ARM (Adjustable Rate Mortgage.) Bond rates remain volatile and fluctuating. Mortgage rates are on an upward trend and nearing the highs for the year which was in mid-March. If rates hit a new yearly high next week, this will beg the question, will we see rates any lower the rest of the year?

Note: Chart above is dynamic and reflects current survey, updated weekly.

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