Mortgage News and Notes

Mortgage rates withstand economic pressures, remaining steady overall

December 17th, 2019 10:04 AM by Steven Hofberg

There are a lot of winds swirling around the economy right now, including those from trade, budget, financial markets, and politics. Last month, the Federal Reserve lowered the federal funds rate by another 0.25%, the third rate cut since July. Overall, the economy has continued to hum along in moderate fashion, with some weakening in both actual and projected economic growth rates. Normally a weaker economic outlook would put downward pressure on rates, but the news regarding the China tariffs is considered favorable by the markets, offsetting that trend.

 

In spite of all of the crosswinds, or perhaps because of them, mortgage rates have been mostly steady over the past month. They move a little each way, but have stayed in a fairly narrow range, and remain favorable to borrowers. Fixed rates are in the high 3s for 30-year financing and in the low 3s for 15-year. Of course, rates fluctuate daily so be sure contact Margie for the most current information.

    

Steven H Hofberg, Operations Manager

Posted in:Rates and tagged: Rates
Posted by Steven Hofberg on December 17th, 2019 10:04 AM

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