Mortgage rates were up a little more this week in the Freddie Mac Weekly Survey, although day-to-day the rates (and the bond market) have been volatile. The 30 Year Fixed Rate Mortgage was at 5.81% in today’s Freddie Mac survey results and the 15 Year Fixed Rate Mortgage was at 4.92%. Recently, 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. Current indications point to at least a half-point fed funds rate increase in July. Mortgage rates are likely to remain volatile in this environment as a new normal emerges in the last half of the 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)