Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

30-year mortgage rate rises to 4.08%

30-year mortgage rate rises to 4.08% (by Ruth Mantell)

WASHINGTON (MarketWatch) - The 30-year fixed-rate mortgage has climbed above 4% for the first time since October, following improving economic data, Freddie Mac said Thursday in its weekly report. The average rate on the 30-year fixed-rate mortgage increased to 4.08% in the week ending March 22 from 3.92% in the prior week. The rate was 4.81% a year earlier. "Mortgage rates are catching up with increases in U.S. Treasury bond yields," said Frank Nothaft, Freddie Mac's chief economist. To obtain the latest rate, payment of an average 0.8 point was required, according to Freddie, a buyer of residential mortgages. A point is 1% of the mortgage amount, charged in prepaid interest. The 15-year fixed-rate mortgage rose to 3.30% in the latest week from 3.16% in the prior week. Meanwhile, the average rate on the 5-year Treasury-indexed hybrid adjustable-rate mortgage increased to 2.96% from 2.83%. The 1-year Treasury-indexed ARM rose to 2.84% from 2.79%.