According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed mortgage rate in the U.S. increasing for the ninth consecutive week.
Len Kiefer, Deputy Chief Economist of Freddie Mac, "The 10-year Treasury yield has been bouncing around in a narrow 15 basis point range for the last month. While the yield on the 10-year Treasury is currently below the high of 2.95 percent reached two weeks ago, mortgage rates are up for the ninth consecutive week. The U.S. weekly average 30-year fixed mortgage rate rose 3 basis points to 4.46 percent in this week's survey, its highest level since January 2014."
Freddie Mac News Facts
30-year fixed-rate mortgage (FRM) averaged 4.46 percent with an average 0.5 point for the week ending March 8, 2018, up from last week when it averaged 4.43 percent. A year ago at this time, the 30-year FRM averaged 4.21 percent.
15-year FRM this week averaged 3.94 percent with an average 0.5 point, up from last week when it averaged 3.90 percent. A year ago at this time, the 15-year FRM averaged 3.42 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.63 percent this week with an average 0.4 point, up from last week when it averaged 3.62. A year ago at this time, the 5-year ARM averaged 3.23 percent.
U.S. mortgage applications for new home purchases increased 8.2 percent compared to September 2017. Compared to August 2018, applications decreased by 9 percent. This change does not include any adjustment for typical seasonal patterns.
According to the Mortgage Bankers Association's most recent Weekly Mortgage Applications Survey for the week ending September 28, 2018, U.S. mortgage applications remained unchanged from one week earlier.
According to the recently released CBRE U.S. Seniors Housing & Care Investor Survey, the appetite for senior housing acquisitions in the U.S. remains strong, with nearly two-thirds of investors planning to increase the size of their portfolios over the next 12 months.