30-year mortgage rates drop slightly as market awaits Fed’s March rate hike

 

Mortgage rates decreased slightly this week, according to the latest data from Freddie Mac. This comes as the market awaits the upcoming rate hike, which the Federal Reserve signaled could come in March.

The 30-year fixed-rate mortgage dropped to 3.55% annual percentage rate (APR) for the week ending Jan. 27, Freddie Mac’s Primary Mortgage Market Survey showed. This is down slightly from 3.56% last week but up from 2.73% last year.

"This week’s Fed meeting reinforced the idea that interest rates are moving higher, with Fed rate hikes likely to begin as soon as March," Realtor.com Chief Economist Danielle Hale said. "However, long-term Treasuries bounced down and then up again this week, as investors evaluated whether they are correctly positioned to navigate the tightrope of a Fed tightening cycle and other economic growth risks against a still-strong economy."

Borrowers can take advantage of the current rates by refinancing their mortgage to lower their monthly payments. Visit Credible to find your personalized interest rate without affecting your credit score.

Comments

Post a Comment

Popular posts from this blog

James Corden mocks Jada Pinkett Smith with 'We Don't Talk About Jada' parody

James Corden mocked Jada Pinkett Smith in a skit for "The Late Late Show" days after Will Smith slapped Chris Rock at the Oscars. The skit began with Corden and other show members discussing how to cover the 94th Academy Awards . While most of the members wanted to focus on big moments - such as "CODA" winning best picture - some thought the focus should be on the joke about Pinkett Smith that led to Smith slapping Rock in the face. "Or we could talk about the thing that everyone is talking about," one guy said. "No, you saw what happened. We have to talk about something else," Corden said.  
Read more

Off-duty correction officer shoots 2 armed robbers in the Bronx after date allegedly sets him up

  The robbers allegedly lured the correction officer, who's in his 20s, with the promise of a date with 21-year-old Diamond Sanchez at around 6 p.m. on Saturday, the sources said. The pair were sitting in a car on East 183rd Street and Tiebout Avenue in Fordham Heights when the two alleged armed robbers, Christian Santana, 22 and Leonel Cuevas, 26, approached the vehicle, sources said. One of the two men pulled out a gun and demanded the correction officer give up his belongings. The officer, who was armed as well, opened fire from inside the car, sources said. The correction officer, who police have not identified, let out multiple shots, hitting Cuevas several times in the chest and Santana in the stomach. Both men were taken to St. Barnabas Hospital with Cuevas in critical condition and Santana in stable condition. At the scene, one of the alleged robbers dropped a gun which Santana attempted to hide, police sources said.
Read more