Month in Review:
As we head into mid-March we are seeing a sharp increase in rates, primarily due to the markets anticipation of the Federal Reserve’s intent to raise the Fed Funds Rate this month. Currently the 30-year fixed conforming annual percentage rate (APR) has increased 0.195 to 4.409. The 30-year jumbo APR increased 0.136 to 4.235 and 5/1 ARM conforming increased 0.129 to 3.882. Rates could continue to climb higher if the Federal Reserve accelerates their forecast of future rate hikes.
Source: Informa Research Services is the premier provider of competitive rate and fee intelligence, sales and service evaluation, regulatory compliance testing and lead-generation services to the financial industry. Since 1983, Informa has provided the information clients need to make more profitable business decisions. Currently, Informa serves more than 6,500 clients including all of the nation’s top 100 financial institutions. Our earned reputation for extreme accuracy, depth of product information, and enthusiastic customer service keeps our clients renewing our services year after year.