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That's because mortgage rates are based on several factors beyond the Fed's benchmark rate, including the strength of the U.S. economy and changes in the yield for the U.S. 10-year Treasury bond.
Mortgage rates aren't always reactive to rate cuts. Mortgage rates certainly fell after the Fed announced its 50-basis-point rate cut in September, but it wasn't necessarily because there was a ...
Hale explained that over the past 14 election cycles — going back to 1972 — we’ve seen everything from much higher rates post-election — as in 1980 — to much lower mortgage rates post ...
Freddie Mac reports an average 6.95% for a 30-year fixed-rate mortgage, down 1 basis point from last week's average 6.96%, according to its weekly Prime Mortgage Market Survey of nationwide ...
Get insights into the 2024 mortgage rate forecast. Learn when mortgage rates might go down and plan your financing strategy accordingly.
This is all due to the fact that the federal interest rate is not tied to mortgage rates, with different factors influencing if they go up or down. Mortgage lenders are looking to make some money ...
Freddie Mac reports an average 6.60% for a 30-year fixed-rate mortgage, down 9 basis points from last week's average 6.69%, according to its weekly Prime Mortgage Market Survey of nationwide ...
Mortgage rates are relatively steady as of Tuesday, January 21, 2025, with the 30-year fixed benchmark now averaging over 7.10% a day after President Donald Trump was sworn in for a second term in ...