It’s a big week for the U.S. economy as the 2024 election takes place and monetary policymakers are meeting to decide what to do next about interest rates.

For mortgage professionals who’ve been dealing with uncertainty of late, more clarity could soon emerge. Mortgage rates have been rising quickly in recent weeks, dashing hopes for growth across the purchase and refinance lending channels.

According to HousingWire’s Mortgage Rates Center, the average 30-year conforming rate stood at 6.88% on Tuesday. This figure has jumped 16 basis points (bps) over the past week, 26 bps in the past details ⇒

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