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Mortgage Rates May Temporarily Spike Due To Tax Bill

Posted by: Hancock Mortgage Partners, LLC
2017-12-22 07:14:27

Information credited to NationalMortgageNews.com

The tax bill Congress sent to President Trump's desk this week is likely to prompt at least a short-term spike in mortgage rates, according to Freddie Mac.

	30-Year FRM	15-Year FRM	5/1 -Year ARM
Average Rates	3.94%	3.38	3.39
Fees & Points	0.5	0.5	0.3
Margin	N/A	N/A	2.75

Mortgage rates rise and fall in line with the yield on 10-year Treasury notes, which has hovered around 2.5% since congressional Republicans passed the tax reform bill, an increase of about 15 basis points from a week ago, when the yield was 2.35%.