Mortgage rates didn’t move much this week in Freddie Mac’s Weekly Survey, despite the increased volatility in the bond markets. The 30 Year Fixed Rate Mortgage was at 3.11% in today’s Freddie Mac survey and the 15 Year Fixed Rate Mortgage was at 2.39%. While still low by historical standards, rates may rise over the longer term because of inflation, upward pressure on bond rates and other interest rates, and the anticipated reduction in purchases of mortgage bonds by the Federal Reserve. There is also speculation today that the Federal Reserve may reduce its purchase of bonds more quickly than previously announced. Right now this upward pressure is being partially alleviated by the flattening of the yield curve.
Freddie Mac’s Weekly Survey was released this morning with its most recent assessment of the mortgage rate landscape. See the details of their survey below.
(dynamic chart with current info)