Mortgage rates jump again for 2nd week and hit 2017 highs

[McFurd]

USA Today - 3/16/2017 - David Carrig - Mortgage rates jumped for a second straight week and hit new highs for the year as borrowing costs for homebuyers rise. The average 30-year mortgage rate climbed to 4.30% from 4.21% last week, mortgage buyer Freddie Mac said Thursday. That is up from 3.73% a year ago. Rates rose in anticipation of a widely expected hike in the Federal Reserve's key interest rate, which the central bank announced Wednesday. The Fed raised its benchmark short-term rate to a range of 0.75% to 1% and left intact its forecast for two more rate hikes in 2017 and three in 2018. Federal Reserve Chair Janet Yellen said at a news conference Wednesday after the decision that "the economy is doing well." The Fed statement said that “inflation has increased in recent quarters, moving close to (the Fed’s) 2% longer run objective.” Read more @ http://www.usatoday.com/story/money/per ... /99250990/