Stronger economy boosts mortgage rates: Freddie Mac

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Freddie Mac CEO Layton on Housing, Mortgages After the previous week’s three-year low, the 30-year fixed-rate mortgage average. chief economist at Freddie Mac. “The.

Mortgage rates will follow treasury yields with the annual average rate for a 30-year falling to 4.1% in 2019 before increasing modestly to 4.2% in 2020. The post Freddie Mac: Low Mortgage Rates, Strong Labor Market to Boost Home Sales appeared first on MortgageOrb .

Sam Khater, Freddie Mac’s chief economist, says the 30-year fixed-rate mortgage increased once again to its highest level since May. "Mortgage rates are drifting upward again and represent continued affordability challenges for prospective buyers – especially first-time buyers," he said.

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Mortgage rate increases seen since the start of 2018 coupled with last week’s additional move higher according to Freddie Mac mean that today’s rates, at 4.66 percent, are 71 basis points.

Mortgage rates will increase gradually through 2016 in response to monetary tightening – we’re forecasting the 30-year rate will average 4.4 percent for the year. House Prices The imbalance between housing demand and supply continues to boost prices.

Freddie Mac affects the U.S. economy by lowering interest rates. That makes more loans available to more new homeowners. That makes more loans available to more new homeowners. For example, reducing the rate from 8.5 percent to 8 percent allowed 791,000 moderate-income families to buy homes.

NEW YORK ( MainStreet) — Freddie Mac ( FRE. stall the overall housing market. "A strong headwind holding back new home sales is the very affordable competition from existing homes," Nothaft adds..

New U.S. single-family home sales rose more than forecast, likely as expectations of higher mortgage rates drew buyers into the market. Other data on Friday showed consumer sentiment holding at near a 13-year high this month as Americans anticipated that a stronger economy would create more jobs.

Freddie Mac’s most recent Primary Mortgage Market Survey showed that the average 30-year fixed-rate mortgage fell to a rate of 3.41%. This is within striking distance of an all-time low. Freddie Mac.

Its low-rate policy has helped boost stock prices and supported a steadily growing economy. For this summer, Freddie Mac is expecting mortgage rates to be about a quarter to a half percentage point.