Mortgage Rates to Rise 1.5 Percentage Points During 2015, Amid Looming Fed Rate Hike

Rates on 30-year fixed mortgages are expected to jump to 5.4% during the fourth quarter of 2015 amid the expectation of tightening monetary policy next year from the Federal Reserve.
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Rates on 30-year fixed mortgages are expected to jump to 5.4% during the fourth quarter of 2015, the National Association of Realtors says, amid the expectation of tightening monetary policy next year from the Federal Reserve. They currently stand at just under 4%. TheStreet's Scott Gamm speaks with Lawrence Yun, Chief Economist with the National Association of Realtors, who says he'll be looking for increased construction of new homes as a sign the housing market is fundamentally strong. He also comments on economic growth in the New Year and the sudden fall in existing home sales in November, which was reported on Monday.