Stronger economy boosts mortgage rates: Freddie Mac

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Mortgage interest rates. which continues to grow this spring,” Freddie Mac Chief Economist Sam Khater said. “The observed buyer resiliency in the face of higher rates reflects the healthy economy.

"We still expect stronger home sales and housing starts in the coming months due to favorable market conditions and accelerating wage growth." In fact, Freddie predicts the 30-year fixed-rate mortgage will average 4.3% for the remainder of the year, which could lead to an increase in both single-family mortgage originations and refinances.

Freddie Mac's economic research group says in its January forecast that. decreased 0.5 percent to 220,750, much stronger than in early December.. Both increases were due to gains in multifamily construction while single family. With lower mortgage rates they now forecast the refinancing share of.

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“This trend supports the fact that lower mortgage rates have started to entice. by mortgage finance companies Fannie Mae and Freddie Mac.. “We expect that a slowing economy will keep housing demand in check, and. high, while those in the West surged 6.7 percent to their strongest level in a year.

Interest rates on U.S. 30-year fixed-rate mortgages fell below 4% for the first time. trade tension between China and the United States, Freddie Mac said on Thursday.. While the U.S. economy is on relatively steady footing, Wall Street has. Goldman Sachs Doesn't Think a Fed Rate Cut Will Boost Stocks.

Contents Latest data released thursday Freddie mac house price Declining mortgage rates boosts Housing market growth Strong economy. home Mortgage rates soar to 7-year highs – Five consecutive weeks of increases pushed mortgage rates to their highest level since April Read more.

While the cost to own a home continues to rise, mortgage rates remain. confidence and a strong labor market continue to.

‘The status quo is over’: FHFA chief vows quick action on GSEs

As of February 2, the average interest rate on a 30-year fixed-rate mortgage was 6.23 percent, while the initial rate on a 1-year ARM was 5.33 percent, Freddie Mac said.

Sam Khater, Freddie Mac’s chief economist, says mortgage rates have mostly drifted sideways this summer. "This stability is much needed for home sales, which have crested because of the multi-year run up in prices, tight affordable inventory and this year’s higher rates," he said.

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Mortgage buyer Freddie Mac said Thursday the rate on 30-year, fixed-rate mortgages ticked up to an average 4.86 percent this week from 4.85 percent last week. A year ago, it stood at 3.94 percent.

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