Mortgage News Daily

Mortgage News Daily

Mortgage Rates Drop Quickly as Market Panic Sets In; New Home Sales Take a Breather; Fannie/Freddie Profit Time?

Mortgage rates dropped quickly today as global financial markets underwent a volatile shift. When money is flowing out of stocks and into bonds (as it was today) rates move lower. There are several underlying reasons for the move and it’s impossible to assign a value to each of them with perfect precision. Several of the most noticeable ingredients include: ongoing …

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New Data Prompts Freddie Mac to Upgrade Forecast; Rates Hold Near Lows, But That Could Change

Freddie Mac’s May Forecast continues to look for a downward trending interest on the 30-year fixed-rate mortgage. The company’s economists are project an average rate of 4.3 percent this year with a small increase to 4.5 percent in 2020. Coupled with a strong labor market, low unemployment, and “modest” wage growth, this should mean a steadily growing housing market this …

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