30‑yr mortgage hits 6.38%
Mortgage costs jumped: the average 30‑year fixed rate reached 6.38% this week, and refinance rates averaged about 6.60% — the highest levels in over six months. The Fed’s April 28–29 meeting is the next calendar risk that could steer rates again. (arkansasonline.com) (m.economictimes.com) (bankrate.com)
Freddie Mac’s weekly Primary Mortgage Market Survey shows the 30‑year benchmark rose from 6.22% the prior week and has now climbed for four straight weekly PMMS releases (Freddie Mac compiles loan offers from the prior Thursday–Wednesday). (freddiemac.com) Daily lender surveys diverge this week: Bankrate’s lender survey published March 27 reported a national average purchase APR of 6.58% and a refinance APR around 6.83%, while Mortgage News Daily’s daily index recorded roughly 6.64% on March 27. (bankrate.com) Zillow’s refinance tracker and related outlets show refinance activity sitting in the mid‑6% range on late‑March daily readings, a different slice of the market than Freddie Mac’s weekly benchmark. (zillow.com) Benchmark 10‑year Treasury yields jumped into the mid‑4% range this week — FRED lists the 10‑year at about 4.42% on March 26 — a move that the market and reporters tied to higher oil prices and geopolitical tension. (fred.stlouisfed.org) Freddie Mac also reported the 15‑year fixed averaged 5.75% this week (up from 5.54% a week earlier) and said purchase and refinance applications are up year‑over‑year despite rate volatility. (freddiemac.com) The Federal Reserve’s official calendar shows a two‑day FOMC meeting at the end of April that includes a press conference, an event markets are watching for any shifts in policy guidance that could influence Treasury yields and mortgage pricing. (federalreserve.gov)
