Is it here? Fixed-Rate Mortgage Rates Rise for Eighth Consecutive Week | David Reed Fixed-Rate Mortgage Rates Rise for Eighth Consecutive Week – David Reed

Optimistic testimony on Capitol Hill from Federal Reserve Chairman Jerome Powell sent Treasury yields higher as Powell stated his outlook for the economy has strengthened since December. Following Treasurys, the 30-year fixed mortgage rate jumped 3 basis points to reach 4.43 percent in this week’s survey. The 30-year rate has been on a tear in 2018, climbing 48 basis points since the start of the year and increasing for 8 consecutive weeks.