March 27th, 2018
- Rates on 30-year fixed home loans were stable in the past week.
- For the week ending March 15, Freddie Mac announced that 30-year fixed rates rose one tick to 4.45% from 4.44% the week before.
- The average for 15-year loans also increased slightly to 3.91% and the average for five-year adjustables rose to 3.68%.
- A year ago, 30-year fixed rates averaged 4.23%, higher than today's level.
- Attributed to Len Kiefer, Deputy Chief Economist, Freddie Mac -- "The Federal Reserve raised interest rates -- a much-anticipated move that comes as both U.S. and global economic fundamentals continue to strengthen. The Fed's decision to raise interest rates by a quarter of a percentage point puts the federal funds rate at its highest level since 2008 -- a decision which was widely expected. The U.S. weekly average 30-year fixed rate rose only 1 basis point to 4.45% percent in this week's survey. So far, U.S. housing markets remain resilient in the face of higher interest rates. The National Association of Realtors® reported this week that existing home sales in February increased 3 percent month-over-month on a seasonally adjusted basis and are up 1.1 percent from a year ago."
Note: Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.