HOMZ - Mortgage rates chase ahead to the highest weekly growth in 35 years

30-year fixed-rate mortgage averaged 5.78% with an average 0.9 point for the week ending June 16, up from last week when it averaged 5.23% and higher than 2.93% a year ago, according to the Freddie Mac Primary Mortgage Survey. Driven by the more than half a percentage point increase in 30-year fixed-rate mortgage, mortgage rates growth is the largest one-week increase in the survey since 1987. 15-year fixed-rate mortgage averaged 4.81% with an average 0.9 point, up from last week when it averaged 4.38% and higher from 2.24% a year ago. 5-year Treasury indexed hybrid adjustable-rate mortgage averaged 4.33% with an average 0.3 point, up from last week when it averaged 4.12% and higher than 2.52% a year ago. "These higher rates are the result of a shift in expectations about inflation and the course of monetary policy. Higher mortgage rates will lead to moderation from the blistering pace of housing

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Mortgage rates chase ahead to the highest weekly growth in 35 years