Mortgage rates fall for fourth week in a row | CNN Business

  • 📰 CNN
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 95%

United States News News

United States United States Latest News,United States United States Headlines

Mortgage rates fell slightly this week, as a smaller rate hike by the Federal Reserve signaled promising improvement on inflation

The 30-year fixed-rate mortgage averaged 6.09% in the week ending February 2, down from 6.13% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year fixed-rate was 3.55%. After climbing for most of 2022, spurred by the Fed’s harsh interest rate hikes to tame soaring inflation, mortgage rates have been trending downward since November, alongside data that continues to show inflation may have peaked.

“And investors are betting that the economic slowdown and the Fed’s eventual victory over inflation will result in lower rates over time.” The MBA is forecasting a modest drop in mortgage rates through 2023, ending closer to 5%. Other economic data play a role in how mortgage rates move, including reports on jobs and inflation. “Most recent indicators point to a still-resilient economy,” said Ratiu.

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:

 /  🏆 4. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

mortgage rates were 2.65% Jan 2021...just saying

さっき勝手にアクセスしてダウンロードされてた契約書みたいなのを送信した会社が捏造して私のスマホ内容を勝手に変更してる場合は? だから私が世の中から相手にしてもらえないようにしくんできたなら日本マジヤバいから完璧調べていただければと思い国内外へTweetします。

ABC7Chicago JohnGarciaABC7 is at ChicagoPD thisisUIC District. WGNNews JulianCrewsWGN , CTVNews RichardMadan , TelemundoCHI maricela_vazq . Telemundo31 Felixpirela . CBCNews Paul Hunter, WESHMeredith at the Chicago Courthouse:

United States United States Latest News, United States United States Headlines