On Wednesday, March 14th The Federal Reserve raised short-term rates by .25%, the third time that the Fed has increased rates since the financial crisis.
The Mortgage Bankers Association reported today that the 30-year fixed conventional mortgage rate rose to 4.46% in the latest week, the highest level since April 2014.
The National Association of Home Builders Housing Market Index jumped to its highest level in 12 years.
The CPI (Consumer Price Index), which measures inflation on the consumer level, was released for February. Headline CPI rose 0.1% and moved up from 2.5% to 2.7% on a year over year basis. This was another significant move on the headline and the hottest reading in five years.
Information courtesy of Bill Holmes with Front Street Mortgage