Record Rates Likely to Escalate

The latest record to be shattered was the 30-year fixed-rate mortgage, which averaged 4.19 percent in Freddie Mac’s Primary Mortgage Market Survey for the week ended Thursday. It was the lowest level recorded by Freddie and the lowest level since 1948 based on a data series of FHA rates dating back to 1948. But an analysis of movement in the 10-year Treasury yield indicates that the 30-year could be as many as 19 basis points higher in next week’s reports.

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