Mortgage rates were up again this week in Freddie Mac’s Weekly Survey. The 30 Year Fixed Rate Mortgage was at 3.56% in today’s Freddie Mac survey and the 15 Year Fixed Rate Mortgage was at 2.79%. These are the highest rates in the survey since March 2020. This corresponds to an overall rise in long term interest rates to start the year. There is now nearly consensus opinion the Federal Reserve may raise interest rates more rapidly and robustly than previously thought to fight inflation.
For perspective, below is a 10 year chart showing 4 other steep moves up this past decade.
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)