Mortgage Rate Articles

Mortgage Rates Moderately Lower After Yellen Testimony

Gold edged lower on Tuesday on a firmer dollar and equities as the market awaited cues on the path of interest rate hikes in the United States ahead of Federal reserve chair janet yellen’s testimony.

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All in all, there’s extremely little to see here in Yellen’s testimony. It’s the usual routine: the economy is experiencing "moderate" growth. We’ll raise rates – but not too much! We’ll wind down the balance sheet "soon." Meanwhile, the Fed continues to invent new explanations of why it needs to remain accommodative.

Adjustable mortgage rates saw decreases also, with the 5-year ARM dipping to 3.54 percent and the 10-year ARM creeping lower to 3.96 percent. mortgage rates took a breather this week after rising.

[BRIEFING.COM] The stock market cruised to a comfortable win on Wednesday as investors dialed back their rate-hike expectations a bit following Fed Chair Janet. modest to moderate economic growth.

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Fed Chair Janet Yellen is delivering her semiannual Monetary Policy Report in front of Congress on Tuesday. The testimony is before the Committee on Banking, Housing and Urban Affairs of the Senate.

Mortgage applications jump 6.3% as borrowers rush to refinance – The Mortgage Bankers Association’s seasonally adjusted index shows volume remains 31 percent lower than a year ago, when interest rates were lower. Refinance volume had been falling after. last.

a day after Federal Reserve Chair Janet Yellen’s dovish stand on interest rates allayed investor fears of a tighter monetary policy. * Yellen’s comments were part of her two-day semi-annual monetary.

Mortgage rates shot lower after Federal Reserve Chair Janet Yellen presented a semi-annual monetary report to Congress. The Fed sees economic headwinds in 2016 which could lead to yet another banner year for mortgage rates, despite widespread expert predictions of higher rates this year.

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In part, the pickup reflected some rebuilding of inventories and a surge in soybean exports. In addition, consumer spending has continued to post moderate gains, supported by solid growth in real disposable income, upbeat consumer confidence, low borrowing rates, and the ongoing effects of earlier increases in household wealth.

Discount points averaged 0.50 percent for 30 and 15 year fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages. Lower mortgage rates may encourage first-time and moderate income home buyers to enter the market, although slim supplies of available homes and rising home prices have caused ongoing concerns about affordability in.