Mortgage rates rose for the third week, amid data showing a pickup in inflation.
“Treasury yields increased heading into this week’s FOMC meeting, partially in response to modestly higher inflation readings,” said Sean Becketti, chief economist of Freddie Mac, in a statement. The 30-year mortgage tends to track movements in the 10-year Treasury.
The Fed, however, said Wednesday it was only expecting two rate hikes this year, down from December’s forecast of four rate increases. - Written by Steve Goldstein for MarketWatch.com
Despite rate increases across the board, we have fortunately been able to maintain interest rates for our Jumbo loans (loans exceeding $625,000) in the 3.625 - 3.75% APR range. Want to close quickly at these low rates? Contact our team, we are approving clients all weekend!