Mortgage Rates Up Slightly as Market Waits on the Fed: Freddie

Interest rates on fixed-rate mortgages rose slightly on a weekly basis, as the market waits on the Fed to resume its interest rate hikes, according to Freddie Mac.

The 30-year fixed-rate mortgage averaged 3.64% for the week ending March 3, according to Freddie Mac's weekly Primary Mortgage Market Survey. That was two basis points higher than last week's average. The rate is 11 basis points lower than a year ago.

The 15-year fixed-rate mortgage rose 1 basis point from last week to an average of 2.94%. It was 3.03% a year ago.

The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.84%, 5 basis points higher than last week, and 12 basis points lower than a year ago.

"Fed officials have been highlighting the downside risks to the economic outlook, and the market expects the Fed to refrain from any further short-term rate increases for now," Sean Becketti, Freddie Mac's chief economist, said in a Thursday news release.

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Originations Housing GSEs
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