Mortgage rates drop amid increased market uncertainty as Russia's bombardment of Ukraine escalates

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 97%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

The average rate for the 30-year fixed-rate was 3.76%, down 13 basis points from the previous week. It’s major shift from just a few weeks earlier when the average rate for the 30-year loan jumped to the highest level since May 2019, close to 4%.

Home buyers will have the chance to lock in low interest rates just ahead of the most popular season to purchase a house.

Markets still expect the Federal Reserve to move forward with an interest-rate hike later this month. On Wednesday, Federal Reserve Chairman Jerome Powell signaled he will support a 25 basis point rate hike — the first in a series of hikes this year. He noted that the Ukraine crisis was adding to inflationary pressure, despite the market volatility.

— Freddie Mac chief economist Sam Khater How mortgage rates respond is not certain. The Federal Reserve controls short-term interest rates, whereas mortgage rates typically track the direction of long-term bond yields, including the 10-year Treasury. Assumptions about the Fed’s interest-rate policy can be baked into the movements of Treasuries and mortgage rates, but other factors also weigh on them.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines