{"id":6226,"date":"2023-11-02T20:49:35","date_gmt":"2023-11-02T20:49:35","guid":{"rendered":"https:\/\/connectwithfund.com\/finance\/mortgage-rates-tick-down-slightly-as-federal-reserve-holds-rates-steady\/"},"modified":"2023-11-02T20:49:36","modified_gmt":"2023-11-02T20:49:36","slug":"mortgage-rates-tick-down-slightly-as-federal-reserve-holds-rates-steady","status":"publish","type":"post","link":"https:\/\/connectwithfund.com\/?p=6226","title":{"rendered":"Mortgage rates tick down slightly as Federal Reserve holds rates steady"},"content":{"rendered":"
\n

Mortgage rates fell for the first time in two months, amid uncertainty over monetary policy as well as the geopolitical conflict in the Middle East.<\/p>\n

The 30-year fixed-rate mortgage averaged 7.76% as of November 2, according to data released by Freddie Mac
\n FMCC,
\n +0.62%<\/bg-quote>
\n on Thursday.\u00a0<\/p>\n

\n

It\u2019s down 3 basis points from the previous week \u2014 one basis point is equal to one-hundredth of a percentage point.\u00a0<\/p>\n

A year ago, the 30-year was averaging at 6.95%.<\/p>\n

The average rate on the 15-year mortgage was 7.03%, unchanged from last week. The 15-year was at 6.29% a year ago.<\/p>\n

Freddie Mac\u2019s weekly report on mortgage rates is based on thousands of applications received from lenders across the country that are submitted to Freddie Mac when a borrower applies for a mortgage.\u00a0<\/p>\n

Separate data by Mortgage News Daily said that the 30-year fixed-rate mortgage was averaging at 7.69% as of Thursday afternoon.<\/p>\n

What Freddie Mac said: <\/strong>\u201cThe Federal Reserve again decided not to raise interest rates but have not ruled out a hike before year-end,\u201d Sam Khater, chief economist at Freddie Mac, said in a statement.<\/p>\n

\u201cCoupled with geopolitical uncertainty, this ambiguity around monetary policy will likely have an impact on the overall economic landscape and may continue to stall improvements in the housing market,\u201d he added.<\/p>\n

What are they saying?<\/strong> \u201cWe were pleased to see that the Fed held short-term rates steady yesterday and continue to believe that it should not hike again and not sell its holdings of mortgage-backed securities until and unless the housing finance market has stabilized,\u201d Bob Broeksmit, president and CEO of the Mortgage Bankers Association, said in a statement.\u00a0<\/p>\n

\u201cThese actions would help to lower mortgage rates and improve homebuyer affordability heading into 2024,\u201d he added.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Mortgage rates fell for the first time in two months, amid uncertainty over monetary policy as well as the geopolitical conflict in the Middle East. The 30-year fixed-rate mortgage averaged 7.76% as of November 2, according to data released by Freddie Mac FMCC, +0.62% on Thursday.\u00a0 It\u2019s down 3 basis points from the previous week \u2014 one basis point is equal to one-hundredth of a percentage point.\u00a0 A year ago, the 30-year was averaging at 6.95%. The average rate on the 15-year mortgage was 7.03%, unchanged from last week. The 15-year was at 6.29% a year ago. Freddie Mac\u2019s weekly<\/p>\n","protected":false},"author":1,"featured_media":6227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[],"class_list":["post-6226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nMortgage rates tick down slightly as Federal Reserve holds rates steady | ConnectWithFund<\/title>\n<meta name=\"description\" content=\"Mortgage rates fell for the first time in two months, amid uncertainty over monetary policy as well as the geopolitical conflict in the Middle East. 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