It’s been an excellent year for people who wanted to take out a mortgage, and we are heading into 2015 with mortgage rates motionless pretty low. The average 30-year fixed-rate mortgage rate rose a slightly to 3.87% in the most recent week, up from 3.83% a week past and a 19-month low of 3.80% 2 weeks ago, according to FMCC latest Primary Mortgage Market Survey.
Freddie Mac’s chief economist, noted that the 30-year fixed-rate mortgage rate averaged 4.17%, in 2014, which was the highest yearly average recorded since 2011. Still, in a year when different interest rates were broadly expected to rise, Treasury yields fell instead.
That helped dull much of the impact on mortgage rates after the Federal keep ending its purchases of Treasuries and mortgage bonds in October. The Fed is expected to start raising its short-term policy rate in 2015, but longer-dated bond yield won’t of necessity follow in lockstep.
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