Mortgage rates increased leading up to the Fed’s monetary policy statement this week.

Rates on 30-year fixed-rate mortgages averaged 4.39 percent with an average point of 0.7 percent for the week ending Aug. 1, up from 4.31 percent last week but down from 3.55 percent a year ago, according to Freddie Mac’s latest Primary Mortgage Market Survey.

Rates on 15-year fixed-rate mortgages and five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans also rose, while rates on one-year Treasury-indexed ARMs slipped marginally.

Citing modest economic growth, the Fed said in the statement that it would not begin to taper its bond-purchasing program just yet. The program has helped keep mortgage rates near record lows during the housing recovery, but indications that the Fed may wind it down later this year have recently pushed up rates.

Since the Fed statement came on Thursday, the recorded increase in rates may not fully reflect the market’s reaction to Fed comments. Source: Freddie Mac

 

Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription