- The rise in rates for home loans slowed in the past week.
- For the week ending February 22, Freddie Mac announced that 30-year fixed rates increased to 4.40% from 4.38% the week before.
- The average for 15-year loans rose one tick to 3.85% and the average for five-year adjustables climbed to 3.65%.
- A year ago, 30-year fixed rates averaged 4.16%, higher than today's level.
- Attributed to Len Kiefer, Deputy Chief Economist, Freddie Mac --"Fixed rates on home loans increased for the seventh consecutive week, with the 30-year fixed rate reaching 4.40 percent in this week's survey; the highest since April of 2014. Rates on home loans have followed U.S. Treasurys higher in anticipation of higher rates of inflation and further monetary tightening by the Federal Reserve. Following the close of our survey, the release of the FOMC minutes for February 21, 2018 sent the 10-year Treasury above 2.9 percent. If those increases stick, we will likely see rates continue to trend higher."
Note: Rates indicated do not include fees and points and are provided for evidence of average market trends only. They should not be used for comparison purposes.Please call 832-437-4191 for your rates.