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Mortgage Rates Avoiding Drama Ahead of Fed Week

The Fed is widely expected to lift the range of its key FedFunds rate by 25 basis points to 2.25% to 2.5%, according to CME Group futures prices, but may drop its reference to the need for.

Mortgage refinancing in high demand as rates fall lower While the drop in mortgage rates benefits home buyers, it’s good for homeowners, too – specifically, homeowners who would snag lower monthly payments by refinancing into a mortgage with a.

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Mortgage Rate Trends: Higher Ahead Of Fed. With a great deal of anticipation on Wednesday’s Fed meeting, it’s no surprise that there’s some volatility in mortgage rates this week-Monday saw rates creeping higher ahead of the Fed; there is much speculation about the potential for the first interest rate hike by the Fed since 2006.

The 30-year fixed-rate mortgage has averaged 4.00% so far this year. The 30-year fixed-rate mortgage averaged 3.92% in the holiday-shortened November 22 week, mortgage provider Freddie Mac said Wednesday. That’s down three basis points compared to last week. The 15-year fixed-rate mortgage averaged 3.32%, up one basis point. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.22%, up from 3.21%.

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Mortgage rates hang tight ahead of the Fed. The benchmark 30-year, fixed-rate jumbo mortgage fell 2 basis points, to 5.58 percent. Mortgage rates always fluctuate, but they’ve been especially volatile in March and are today approximately one-eighth to one-quarter percentage point lower, on average, than they were one month ago.

But mortgage rates are doing just fine in the face of the impending hike. Last week, Freddie Mac reported the third straight 2017 low of 3.89%. Thirty-year rates have dropped 41 basis points (0.41%) since March and are now holding at the lowest levels since November.

Although the president’s move came too late in the week to affect Freddie Mac’s survey, political drama. mortgage rates have been able to avoid any major disruptions and remained relatively calm.

What’s Ahead For Mortgage Rates This Week – October 16, 2017 CBC National Bank mortgage rates 0 comment Last week’s economic reports included minutes of the Fed’s Federal Open Market Committee meeting held in September along with releases on inflation and weekly reports on mortgage rates and new jobless claims.

What’s Ahead. This week’s scheduled economic reports include readings on retail sales, the National Association of Home Builders Housing Market Index and Commerce Department readings on housing starts and building permits issued. Weekly readings on mortgage rates and new jobless claims will also be released.