Mortgage rates moved to an 11-month high this past week thanks to expectations about Federal Reserve rate hikes. Some signs point to another increase in mortgage rates over the next week.
Thirty-year fixed interest rates on single-family loans averaged 4.22 percent in the seven days that concluded on Feb. 1, according to Freddie Mac’s Primary Mortgage Market Survey.
The last time that long-term mortgage rates were that high was in the week ended March 23, 2017, when Freddie reported the 30 year at 4.23 percent.
Source: Mortgage Daily