Mortgage Rates Hit Year-High before Fed Decision

Thirty-year fixed mortgage rates on average hit a year-high this week ahead of the Federal Reserve’s decision on the key interest rate, increasing to 4.21 percent, according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®). Fifteen-year mortgage rates, at the same time, increased to 3.42 percent, while 5-year Treasury-indexed hybrid adjustable mortgage rates increased to 3.23 percent.
Mortgage rates and the Treasury yield have uncharacteristically diverged in recent w