Stronger economy boosts mortgage rates: Freddie Mac

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WASHINGTON (AP) – U.S. long-term mortgage rates barely budged this week after marking the biggest drop in nearly four years a week earlier. Home borrowing rates remain much higher than they were a.

Five consecutive weeks of increases pushed mortgage rates to their highest level since April 2011. According to the latest data released Thursday by Freddie Mac, the 30-year fixed. to be bad for.

Mortgage rates will increase gradually through 2016 in response to monetary tightening – we’re forecasting the 30-year rate will average 4.4 percent for the year. House Prices The imbalance between housing demand and supply continues to boost prices.

“The combination of cooling inflation and slower global economic growth led mortgage rates to drift down to the lowest levels in a year," Freddie Mac’s chief economist Sam Khater said in a statement..

Mortgage applications plummet nearly 10% to end 2018, despite lower rates WASHINGTON – Average U.S. rates on fixed mortgages rose for a third straight week as new data showed a surprisingly strong pace of new-home sales last month. Rates still remain near historically low.

WASHINGTON (AP) – US long-term mortgage rates fell this week after four weeks of increases, giving a boost to prospective home buyers during the spring sales season. Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year fixed-rate mortgage dropped from 4.2 percent last week to 4.14 percent.

Freddie Mac affects the U.S. economy by lowering interest rates. That makes more loans available to more new homeowners. That makes more loans available to more new homeowners. For example, reducing the rate from 8.5% to 8% allowed an additional 791,000 moderate-income families to buy homes.

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As of February 2, the average interest rate on a 30-year fixed-rate mortgage was 6.23 percent, while the initial rate on a 1-year ARM was 5.33 percent, Freddie Mac said.

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Sam Khater, Freddie Mac’s chief economist, says the 30-year fixed-rate mortgage drifted up for the second consecutive week to 4.60 percent. "The higher rate environment, coupled with the ongoing lack of affordable inventory, has led to a drag on existing-home sales in the last few months," he said.

Contents Latest data released thursday Freddie mac house price Declining mortgage rates boosts Housing market growth Strong economy. home Mortgage rates soar to 7-year highs – Five consecutive weeks of increases pushed mortgage rates to their highest level since April Read more.

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