Stronger economy boosts mortgage rates: Freddie Mac

Even if the U.S. economy slows during the rest of 2019, the outlook for the housing and mortgage market remains strong, said economists at Fannie Mae and freddie mac. gross domestic product grew 3.2% in the first quarter, but Fannie Mae projects the second quarter to have just 1.7% growth, while Freddie Mac is slightly [.]

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Sam Khater, Freddie Mac’s chief economist, says mortgage rates have mostly drifted sideways this summer. "This stability is much needed for home sales, which have crested because of the multi-year run up in prices, tight affordable inventory and this year’s higher rates," he said.

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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Freddie Mac CEO Layton on Housing, Mortgages Home borrowing rates remain at their highest levels in more than seven years, with the key 30-year rate approaching 5 percent. Mortgage buyer Freddie Mac said Thursday that the rate on 30-year fixed-rate mortgages ticked up to an average 4.86 percent this week from 4.85 percent last week. A year ago, it stood at 3.94 percent.

Economists said the strong readings. guaranteed by mortgage finance companies Fannie Mae and Freddie Mac. “A variety of different measures of housing activity have been soft in recent months.

The world of mortgage. economy has helped rates fall more quickly than they otherwise might. Based on the Fed’s laundry list of concerns, the bond market (which determines rates) will be watching.

Five consecutive weeks of increases pushed mortgage rates to their highest level since April 2011. According to the latest data released Thursday by Freddie Mac, the 30-year fixed. to be bad for.

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.

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Contents Latest data released thursday Freddie mac house price Declining mortgage rates boosts housing market growth Strong economy. home Mortgage rates soar to 7-year highs – Five consecutive weeks of increases pushed mortgage rates to their highest level since April Read more.