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News & Press: Industry News

Mortgage Rates Continue to Rise

Tuesday, June 19, 2018  
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According to the latest Primary Mortgage Market Survey data released Thursday by Freddie Mac, the 30-year fixed-rate average rose to 4.62 percent with .04 points. A year ago it was at 3.91 percent. The 15 year fixed rate rose to 4.07 percent, a rather steep increase from the 3.18 rate of a year ago. The 15 year Adjustable Rate rose to 3.83 percent from 3.15 percent a year ago. Freddie Mac did note in its release that currently a smaller segment of mortgages were pegged to short terms rate movements. The ARM share of the market is now 8 percent versus the 31 percent share that existed during the last round of Fed tightening between 2004-2006.

California Land Title Association

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