The mortgage rate dip of last week is over, with the cost of borrowing to purchase a new home increasing in the week ending Thursday, March 22. Freddie Mac announced on Thursday that the mortgage rate on a 30-year fixed loan stands at 4.45%, which is up 0.01% from last week and up 0.22% from a year ago. The rate on a 15-year fixed-rate mortgage also inched higher for the week and is currently at 3.91%. Freddie Mac said that the Federal Reserve’s move to raise interest rates by a quarter of a percentage point puts the federal funds rate at its highest level since 2008.
Source: Investopedia