General World News

Mortgage industry encouraged by Fed’s dovish approach

Mortgage rates have increased roughly 50 basis points in the first few months of 2021, in no small part due to fears that inflation will rear its ugly head as the economy rebounds. But the Federal Reserve is staying the course, maintaining the low-rate environment that gave rise to the best year for the mortgage industry in history.

Fed Chairman Jerome Powell and the Federal Open Market Committee on Wednesday said they will leave interest rates near zero. Some forecasters believe the Fed won’t hike rates until as late as 2024, which is welcome news for mortgage industry leaders details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com