The Costa Mesa Blog by Torelli Realty

Costa Mesa Market Updates, Community News, and more!

Increasing Mortgage Rates

Home loan rates have been steadily increasing and have jumped up in the last month as economic data firmed enough to seal a Federal Reserve rate hike.  The 30 year fixed rate climbed nine points, landing at an average of 4.30%, and the 15 year fixed rate averaged at 3.50%, up from 3.42% during early March. Click here to read the full article on increasing mortgage rates.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.28%, up five basis points during the week.

Those rates don’t include fees associated with obtaining mortgage loans.

Mortgage rates moved higher even as the 10-year Treasury yield TMUBMUSD10Y, -1.96%   remained flat throughout the week. The mortgage market has traditionally tracked the yields on benchmark bonds but that relationship has faltered this year.

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