Mortgage rates rocketed a half point higher this week in the Freddie Mac Weekly Survey. The 30 Year Fixed Rate Mortgage was at 5.78% in today’s Freddie Mac survey results and the 15 Year Fixed Rate Mortgage was at 4.81%. Yesterday the Federal Reserve raised the Fed Funds Rate target by 0.75% in addition to starting to liquidate mortgage and treasury securities on its balance sheet earlier this month. Current indications point to at least a half-point fed funds rate increase in July.
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)