Fed Rate Hike May Come More Sooner than Later

SOURCE: Mortgage News Feed

Two mortgage interest rate indicators released Thursday showed that rates moved upward for the month and over the last week, keeping alive the possibility that the Fed may finally make its move this summer. The Federal Housing Finance Agency (FHFA) reported that interest rates on conventional purchase-money mortgages increased from March to April, according to several indices of new mortgage contracts. For loans closed in late April, the report found that the national average contract mortgage rate for the purchase of previously occupied homes by combined lenders index was 3.75 percent, up 2 basis points from 3.73 percent in March. Read Full Article Here >> 


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