Fed Isn't Rushing to Lower Interest Rates
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The average rate on the 30-year fixed mortgage fell this week to 6.74%, according to the latest Freddie Mac data released on Thursday. That is down from last week's reading of 6.75%.
Comments by Bill Pulte, director of the agency that oversees the mortgage giants, suggest that releasing them from conservatorship isn’t as certain as some investors thought.
With Trump’s tax overhaul now in the rearview mirror, a potential Freddie and Fannie conservatorship release could move up the docket.
The average rate on 30-year fixed home loans increased to 6.75% for the week ending July 17, up from 6.72% last week.
4don MSN
Average long-term US mortgage rate eases to 6.74%, keeping home loan borrowing costs elevated
The average rate on a 30-year U.S. mortgage eased this week, offering little relief for prospective homebuyers facing record-high home prices
The average rate on a 30-year U.S. mortgage eased this week, offering little relief for prospective homebuyers facing record-high home prices.
According to data from Freddie Mac, the average rate on a 30-year fixed mortgage was 6.74% for the week ending Wednesday, down just a single basis point from 6.75% the week prior. The average 15-year fixed mortgage rate was 5.87%, down five basis points from 5.92% last week.
Seventeen years after the 2008 bailout, Fannie Mae and Freddie Mac remain under federal conservatorship, with a future that’s yet to be defined. And that limbo helps shape how every conforming loan is priced,
This week, long-term mortgage rates remained essentially flat week-over-week, the latest Freddie Mac Primary Mortgage Survey showed.
The regulator of Fannie Mae and Freddie Mac wants to allow mortgage lenders to use an alternative credit score to FICO for borrower applications.
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