Why Mortgage Rates Haven't Risen As Expected
Posted by Jay Gulick on Tuesday, July 22, 2014 at 2:41 PM By Jay Gulick / July 22, 2014 Comment
(From Marketwatch.com) By most estimates, mortgage rates were expected to climb this year, with rates on the 30-year fixed-rate mortgage predicted to exceed 5%. Instead, rates are now lower than they were this time in 2013 — much to the advantage of mortgage shoppers. There are a few reasons why higher rates never came to pass. Rates on the 30-year fixed-rate mortgage averaged 4.15% for the week ending July 10, according to Freddie Mac’s weekly survey of conforming mortgage rates. A year ago, rates averaged 4.51%. Read more.
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