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How Mortgage Rates Are Responding To The Fed Rate Hike

Average fixed mortgage rates are up for the eighth week in a row after the Fed raised the key rate. A 30-year fixed-rate averages at 4.30 percent with an average 0.5 point – up from last week’s 4.16 – which is the highest its been since April 2014.

15-year fixed-rates are at an average of 3.52 percent with an average 0.5 point, up from last week’s 3.37. The 5-yeear Treasury-indexed hybrid adjustable rate mortgages moved up to 3.32 percent with an average 0.4 point.

This is the first time average mortgage rates have topped four percent this year after the election. The Fed is expected to raise the key rate three more times in 2017.

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