By RISMedia Staff
Mortgage rates again moved up this week, continuing an uptrend, with the average 30-year, fixed rate at 4.43 percent, according to Freddie Mac's recently released Primary Mortgage Market Survey® (PMMS®). The average 30-year, fixed rate was 4.40 percent the week prior. The average 15-year, fixed rate this week is 3.90 percent, while the average five year, Treasury-indexed hybrid adjustable rate is 3.62 percent.
Mortgage rates are moved, primarily, by 10-year Treasury yields.
Housing has begun to feel the impact of higher mortgage rates, with existing and pending home sales in January tumbling.
"As we documented, historically when mortgage rates surge, housing swoons," Kiefer says, "but we think strength in the economy and pent-up housing demand should allow U.S. housing markets to post modest growth this year even with higher mortgage rates. We really have to wait for housing markets to heat up in spring, but early indications are that housing demand remains robust to these rate increases."
Source: Freddie Mac
Reprinted with permission from RISMedia. ©2018. All rights reserved.
If you thinking in buying with financing this is probably a good time.