The numbers: Mortgage rates dipped slightly amid volatility in the banking sector and the U.S. central bank’s indication that it would pause hiking interest rates
The 30-year fixed-rate mortgage averaged 6.39% as of May 4, according to data released by Freddie Mac on Thursday. Separate data by Mortgage News Daily said that the 30-year fixed-rate mortgage was averaging at 6.49% as of Thursday afternoon.
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:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This Fed rate increase might be good for mortgage ratesIf investors believe Fed rate increases will succeed in pushing inflation lower, mortgage rates will fall.
Source: ladailynews - 🏆 332. / 59 Read more »
How the Fed’s rate hikes helped drive up mortgage paymentsMortgage payments rise based on a number of reasons, but a big factor is that the Fed has raised interest rates 10 times since March 2022.
Source: politico - 🏆 381. / 59 Read more »
Fed playbook: Which stocks to buy or sell depending on what the Fed doesCNBC Pro screened for names screened that are the most sensitive to interest rates by looking at the 100-day correlation between each S&P 500 stock and SHY ETF.
Source: CNBC - 🏆 12. / 72 Read more »
Fed's Powell: don't assume Fed can shield U.S. economy from debt limit defaultThe U.S. Federal Reserve is unlikely to be able to protect the U.S. economy from the damage caused by a failure to raise the federal debt ceiling, Fed Chair Jerome Powell said on Wednesday, adding that the government should never be in a position where it is unable to pay all of its bills.
Source: Reuters - 🏆 2. / 97 Read more »
Mortgage demand drops as bank failures hit jumbo loan ratesMortgage demand dropped last week despite a slight easing in interest rates, while trouble in the banking sector makes jumbo loans more expensive.
Source: CNBC - 🏆 12. / 72 Read more »
Today’s mortgage rates for May 3, 2023Looking for the most up-to-date mortgage rates to empower your purchasing or refinancing decisions? We’ve got you covered
Source: njdotcom - 🏆 282. / 63 Read more »