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Mortgage rates post eighth straight weekly increase

Published 03/01/2018, 11:05 AM
© Reuters.  Mortgage rates post eighth straight weekly increase
  • The 30-year fixed mortgage rate rose for the eighth consecutive week and has now climbed 48 bps since the start of the year, according to Freddie Mac's latest weekly survey.
  • The benchmark 30-year fixed mortgage averaged 4.43% during the week ending March 1, up from 4.40% last week, and the 15-year rate averaged 3.90%, up from 3.85% a week ago.
  • Last year at this time, the 30-year and 15-year fixed rates averaged 4.10% and 3.32%, respectively.
  • While noting that the housing market typically swoons when mortgage rates surge, Freddie Mac says "strength in the economy and pent up housing demand should allow U.S. housing markets to post modest growth this year even with higher mortgage rates."
  • ETFs: XHB, ITB
  • Now read: Higher Mortgage Rates Crushing Housing


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