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.