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Treasure Coast & Palm Beach | Real Estate News

Mortgage Rates Roar to a Fresh 2018 High

Rates for home loans surged on strong economic data, taking the benchmark rate to its highest point so far this year. The 30-year fixed-rate mortgage averaged 4.47%, according to Freddie Mac’s weekly survey, out Thursday. That was five basis points higher than in the previous week, and the highest for the popular mortgage product since January 2014. The 15-year fixed-rate mortgage averaged 3.94%, up from 3.87%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.67%, up from 3.61% last week. Those rates don’t include fees associated with obtaining mortgage loans. Mortgage rates generally follow the path of the 10-year U.S. Treasury note yield, which has started to recover after being battered by trade war fears a few weeks ago. Stronger economic data and hints of firmer ...