Mortgage rates rebound

Faster. Better. Together.
Inman Connect San Francisco, Jul 16-20, 2018

Signs that an economic recovery remains on track sent mortgage rates rebounding from record lows this week, but the cost of home loans isn't expected to soar.Purchase loan applications have picked up lately, to about the same level as seen at the same time a year ago.Rates on 30-year fixed-rate mortgage averaged 3.92 percent with an average 0.8 point for the week ending March 15, Freddie Mac said in releasing the results of its Primary Mortgage Market Survey.That's up from 3.88 percent last week but down from 4.76 percent a year ago. Rates on 30-year fixed-rate mortgages hit an all-time low in records dating to 1971 of 3.87 percent during the first three weeks of February.For 15-year fixed-rate loans, rates averaged 3.16 percent with an average 0.8 point, up from 3.13 percent last week -- a low in records dating to 1991 -- but well below the 3.97 percent average seen during the same week a year ago.Rates on five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged...