Interest Rates Are Up, So Why Are Mortgage Rates Down?
What the Federal Reserve primarily manipulates is a single, key interest rate known as the federal funds rate — essentially the rate banks pay when they make overnight loans to one another. Mortgages, by contrast, are anything but overnight loans.
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FHFA: Mortgage interest rates increased in December
Mortgage interest rates rose in December across the U.S., a new report from the Federal Housing Finance Agency showed. According to the FHFA, several indices of new mortgage contracts showed that interest rates on conventional purchase-money …
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