Mortgage rates are higher again this week in Freddie Mac’s Weekly Survey. The 30 Year Fixed Rate Mortgage was at 3.92% in today’s Freddie Mac survey and the 15 Year Fixed Rate Mortgage was at 3.15%. These are the highest rates in the survey in almost three years. The Federal Reserve has indicated it will stop buying mortgage bonds in a few weeks, raise the Fed Funds rate in mid-March, and then begin to liquidate its mortgage bonds sometime later in the year. The direction for mortgage rates seems clear. It’s now a matter of how much and how soon mortgage rates will be impacted by the diminishing liquidity and the increasing volatility in the bond market. After recent comments by Fed members, signs are pointing to a quicker than expected rise in rates this year.
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)
