Mortgage Rates Charge Back, Moving Toward Yearly Highs

Freddie Mac reports that the average 30-year fixed mortgage rose to 4.62 percent this week, its second-highest level this year, from 4.54 percent a week ago and 3.91 percent a year ago. Meanwhile, the average 15-year fixed mortgage edged up to 4.07 percent from 4.01 percent a week ago and 3.18 percent a year ago. “A steady stream of healthy economic data in the U.S. combined with signals from central banks around the world pointing toward slightly tighter monetary policy on a global scale reversed the recent slide in rates,” says Zillow senior economist Aaron Terrazas. “[The rate hike] from the Federal Reserve was widely anticipated and largely priced into markets already, but markets are still digesting the finer points around the Fed’s forecasts and alternative policy levers, and comments from Chairman Powell’s press conference.”

Washington Post (06/14/18) Kathy Orton

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