Mortgage Rates Rise Partly Due to Inflation: Freddie

Fixed-rate mortgage rates rose for the third straight week, in part due to higher inflation, Freddie Mac reported.

The 30-year fixed-rate mortgage averaged 3.73% for the week ending March 17, according to Freddie Mac's weekly Primary Mortgage Market Survey. That's higher than last week's figure of 3.68% and lower than the 3.78% figure of a year ago.

The 15-year fixed-rate mortgage averaged 2.99%, up from 2.96% a week ago. Last year it was 3.06%.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.93%, up from 2.92% last week and down from 2.97% a year ago.

“Treasury yields increased heading into this week's FOMC meeting, partially in response to modestly higher inflation readings,” Sean Becketti, Freddie Mac's chief economist, said in a news release. “30-year mortgage rates kept pace, rising 5 basis points to 3.73%.”