General World News

Mortgage rates rebound after five straight weeks of declines

Interest rates for mortgage loans broke five straight weeks of declines caused by the bank crisis. This week, the 30-year fixed rate rebounded due to recent data indicating a still-resilient economy, the potential continuity of the Federal Reserve’s tightening monetary policy, and pressures in the secondary market. 

“For the first time in over a month, mortgage rates moved up due to shifting market expectations,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “Home prices have stabilized somewhat, but with supply tight and rates stuck above 6%, affordable details ⇒

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