Mortgage Rates Rising At Pace Not Seen In Almost 50 Years

“Mortgage rates so far in 2018 have had the most sustained increase to start the year in over 40 years,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “Through May, rates have risen in 15 out of the first 21 weeks (71 percent), which is the highest share since Freddie Mac began tracking this data for a full year in 1972.”

The Federal Reserve released the minutes from its May 2 meetings earlier this week. Officials indicated they are unlikely to hasten increases to their benchmark rate. The next interest rate hike is expected in June.

READ MORE:  https://www.lmtonline.com/business/article/Mortgage-rates-have-been-rising-at-a-pace-not-12940865.php

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