Mortgage rates have inched downward, with the 30-year fixed rate falling down “by a fraction of a point to 6.96 percent,” Corcoran said, representing the lowest rate in six weeks. The 15-fixed loan rate was 6.21 percent as of Thursday. However, Corcora… Continue reading
Minutes released last week from the July 27-28 meeting of a Federal Reserve committee that sets monetary policy revealed that most members are open to tapering bond purchases the Fed makes to stimulate the economy by the end of this year. Continue reading
During the pandemic, the Federal Reserve has been keeping a lid on interest rates by increasing its holdings of long-term Treasurys and mortgage-backed securities (MBS) by $120 billion a month. Before announcing a timetable for tapering those purchases… Continue reading