Freddie: 30yr Fixed Rate Mortgage 6.08% in Week Ended May 29, Up From 5.98% Week Prior
Frank Nothaft, Freddie’s chief economist, said mortgage rates “drifted up this week over market concerns that the [FED] may raise short-term rates later this year.”
“Indeed, market inflation expectations increased over the last few weeks and the federal funds futures market now has a 25 basis point rate hike priced in by the end of the year,” Nothaft said.