Fed­eral Re­serve Chair Janet L. Yellen

The Washington Post Sunday - - TAKING STOCK -

said Fri­day that a March rate hike would be “ap­pro­pri­ate” if the econ­omy con­tin­ues to evolve as ex­pected. Speak­ing in Chicago, Yellen cited a strong job mar­ket and ris­ing in­fla­tion, sig­nal­ing that the Fed would move to raise rates ear­lier than ex­pected.

The 30-year fixed-rate mort­gage av­er­age de­creased to 4.10 per­cent with an av­er­age 0.5 point. It was 4.16 per­cent a week ago and 3.64 per­cent a year ago. The 15year fixed-rate av­er­age dropped to 3.32 per­cent with an av­er­age 0.5 point. It was 3.37 per­cent a week ago and 2.94 per­cent a year ago.

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