The Markets

  • Rates on home loans rose again in the past week.
  • For the week ending February 15, Freddie Mac announced that 30-year fixed rates increased to 4.38% from 4.32% the week before.
  • The average for 15-year loans rose to 3.84% and the average for five-year adjustables climbed to 3.63%.
  • A year ago, 30-year fixed rates averaged 4.15%, higher than today's level.
  • Attributed to Len Kiefer, Deputy Chief Economist, Freddie Mac -- "Wednesday's Consumer Price Index report showed higher-than-expected inflation; headline consumer price inflation was 2.1 percent year-over-year in January -- two tenths of a percentage point higher than the consensus forecast. Inflation measures were broad-based, cementing expectations that the Federal Reserve will go forward with monetary tightening later this year. Following this news, the 10-year Treasury reached its highest level since January 2014, climbing above 2.90 percent. Rates on home loans have also surged. After jumping 10 basis points last week, 30-year fixed-rates rose 6 basis points to 4.38 percent, its highest level since April 2014." 

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.Please call for your rates.