Skip to comments.Mortgage Rates Continue to Rise, Fed Eases Fears
Posted on 07/12/2013 12:00:25 PM PDT by illiac
Mortgage rates moved higher again this week as speculation continued about whether the Federal Reserve will end its future bond purchases, which have kept rates at historical lows, Freddie Mac reports in its weekly mortgage market survey. But remarks by Federal Reserve Chairman Ben Bernanke on Wednesday may indicate that the Fed wont be ending its program immediately.
On Wednesday, Bernanke said that unemployment is still high and inflation too low. He said the Fed would not raise short-term rates until the unemployment rate reaches 6.5 percent. The jobless rate is currently 7.6 percent. The Fed has been buying $86 billion a month in government bonds to hold down long-term interest rates, which have helped mortgage rates in recent months reach all-time lows.
Freddie Mac reported the following national averages with mortgage rates for the week ending July 11:
(Excerpt) Read more at realtormag.realtor.org ...
This economist was on Fox Business. GREAT interview!
Was a great interview....thanks
New foreclosure wave coming soon.
Just when rising real estate prices give hope to us home owners that never missed a payment,have perfect credit but are not under water in their home values and their ONLY impediment to refi was poor LTV scores, old whiskers Bernanke has to open his BFM.