Bloomberg writer Prashant Gopal reported yesterday that, “U.S. mortgage rates rose, sending costs for 30-year home loans to their highest level this year before the Federal Reserve meets to consider an increase in its benchmark interest rate.
“The average rate for a 30-year fixed mortgage was 4.21 percent, up from 4.1 percent last week, Freddie Mac said in a statement Thursday. The average 15-year rate climbed to 3.42 percent from 3.32 percent.”
The Bloomberg article noted that, “The Treasury yields that guide mortgage costs jumped in the past week as a series of speeches by Federal Reserve officials bolstered traders’ expectations that the central bank will almost certainly raise rates at its March 14-15 meeting. Chair Janet Yellen said an increase ‘would likely be appropriate’ if the job market and inflation keep moving toward the Fed’s targets.”
