Mortgage rates settle after four weeks of increases

By | January 27, 2022

The rate on the 30-year fixed mortgage — the most common home loan for buyers — edged down to 3.55% from 3.56% the previous week, according to Freddie Mac. The rate is still among the highest since March 2020 and is over a half-point higher than a month ago.

Even with the slight decrease, “mortgage shoppers should not get used to it, as rates are pushing higher again this morning after Fed Chair Powell’s press conference yesterday,” Keith Gumbinger, vice president of HSH.com, told Yahoo Money. “Interest rates are firming again and until inflation starts to show signs of cooling, odds favor higher than lower mortgage rates.”

Full article: Mortgage rates settle after four weeks of increases (yahoo.com)

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Author: MS Editorial Team

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