Rates, tax law impact mortgage industry

Mortgage interest rates in 2018 have, until very recently, been steadily rising. According to Freddie Mac data, the 30-year fixed-rate mortgage rose over a quarter of a percentage point, or 27 basis points, in January. The 15-year fixed-rate mortgage rose from around 3.38 percent in early January to around 3.68 percent in February.

After nine consecutive weeks of increases, rates dropped slightly for the first time all year in mid-March, with the 30-year fixed-rate mortgage averaging 4.44 percent, down from 4.46 percent. A year ago at this time, the 30-year fixed-rate mortgage averaged 4.30 percent, so…