Mortgage rates drop for fifth week in a row | CNN Business

The 30-year fixed-rate mortgage averaged 6.31% in the week ending December 15, down from 6.33% the week before, according to Freddie Mac. A year ago, the 30-year fixed rate was 3.12%. Mortgage rates have risen throughout most of 2022, spurred by the Federal Reserve’s unprecedented campaign of harsh interest rate hikes to tame soaring inflation. But mortgage rates have tumbled in the last several weeks, following data that showed inflation may have finally reached its peak.

Mortgage rates tend to track the yield on 10-year US Treasury bonds. When that rate goes up, the 30-year fixed-rate mortgage typically goes up, too. When the Treasury rate goes down, so do mortgage rates. But this isn’t the end of rate hikes. Fed Chair Jerome Powell mentioned in his remarks that with prices still rising at a high rate, more rate increases are needed and the central bank remains committed to rate hikes until the pace of inflation notches a noticeable slowdown, Ratiu said.

WHAT ABOUT THE BLOATED PRICES OF THE HOMES THEMSELVES ? DEVELOPERS AND BANKS ARE GOUGING ANYONE WHO THINKS THEY WANT TO OWN A HOME, JUST BECAUSE THEY CAN.

It was 3.25 not long ago lol But thanks Joe!

امطار_الكويت

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

The Fed lifts rates by half a point, acknowledging that inflation is easing | CNN BusinessThe Federal Reserve approved a half-point interest rate hike on Wednesday, a smaller increase than in recent months and an acknowledgment that inflation is finally easing. They will lower it next year. Reporting by Far-Left CNN.
Herkunft: CNN - 🏆 4. / 95 Weiterlesen »

Parents of Sam Bankman-Fried face scrutiny over their roles in FTX | CNN BusinessSam Bankman-Fried's multibillion-dollar crypto empire was run primarily by 'grossly inexperienced and unsophisticated individuals' who failed to institute basic corporate controls and even relied on QuickBooks to do their accounting, according to investigators. Oh yeah, they were totally not in on it. The dude is 30 yrs old! I’d love to see someone take a set of clippers to that rats nest…tired of seeing it
Herkunft: CNN - 🏆 4. / 95 Weiterlesen »

Taco Bell may add fries to its menu permanently to compete with McDonald's | CNN BusinessTaco Bell knows you want fries with that. Especially during lunch. Canadian wisdom Nobody goes to Taco Bell for fries. It’s not a competition thing. Del Taco’s fries are better.
Herkunft: CNN - 🏆 4. / 95 Weiterlesen »

An electric scooter company just pulled off Russia's only IPO of the year | CNN BusinessAn electric scooter service just became the only company to pull off an initial public offering in Russia this year.
Herkunft: cnni - 🏆 326. / 59 Weiterlesen »