U.S. Mortgage Rates Hold
Author:
Chad Wandler
Location: McLean
Date: 2013-08-16
Freddie Mac (OTCQB: FMCC) yesterday released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates largely unchanged from the previous week after bouncing around over the past few weeks on market speculation that the Federal Reserve will taper in its upcoming September monetary policy committee meeting. News Facts
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey. Quotes "Fixed mortgage rates have been bouncing around over the past few weeks on market speculation that the Fed will taper some of its monetary stimulus. In fact, 65 percent of economists surveyed by Bloomberg expect the Fed to reduce the amount of bond purchases at its September 17th and 18th monetary policy committee meetings. Currently, mortgage rates on 30-year fixed mortgages are 1.1 percentage points above their all-time low set on November 21, 2012, which translates into $125 more per month in mortgage payments on a $200,000 loan."
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