The average rate for a benchmark 30-year mortgage ticked up another 6 basis points over the past week to 4.6 percent, which is 82 basis points above its mark at the same time last year, which is the largest year-over-year (YOY) increase since May of 2014, and within 6 basis points of its seven-year high of 4.66 percent which it hit this past May, according to Freddie Mac’s latest Mortgage Market Survey data.

At the same time, the average rate for a 15-year fixed mortgage ticked up 7 basis points to 4.06 percent, which is 98 basis points above its mark at the same time last year, while the average rate for a 5-year adjustable held at 3.93 percent, which is 80 basis points higher, year-over-year.

And according to an analysis of the futures market, the probability of the Fed rolling out another rate hike at the end of this month is holding at 100 percent.

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