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Tag Archives: Mortgage Interest Rates

FOMC Hikes Interest Rates; Will Mortgage Rates Follow?

The Fed has voted for the second time this year to raise interest rates, a decision that was hinted at back in March by Janet Yellen, FOMC Board of Governors Chair. The FOMC is of the opinion that waiting too long to scale back accommodations could potentially cause a rapid increase in rates, which could disrupt the market and send the economy into another recession. It is currently unclear how the hike in interest rates will affect mortgage rates.

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FHFA Survey: Mortgage Interest Rates Continue to Fall

The Federal Housing Finance Agency has released its monthly index on mortgage interest rates, surveying 17 lenders and a total of 4,437 loans closed during the last 5 business days of April. Lenders report a decline of 14 to 15 basis points on all loan interest rates as well as a slight decline in the average loan amount. April marks the second straight month the FHFA’s survey has reported a drop in interest rates.

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Fed’s Projections Push Mortgage Rates Higher

Earlier this month, the Federal Reserve raised the federal funds target rate by 25 basis points—just like last December. Unlike last December, when mortgage interest rates subsequently plummeted down to near record lows seen in 2012, this time rates have gone the other direction.

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