Mortgage rates largely remained unchanged this week, as mortgage industry investors continue to stay vigilant following a series of comments from Chair of the Federal Reserve, Jerome Powell. According to Freddie Mac, the average fixed rate for a 30-year mortgage was unchanged this week, with an average interest rate of 3.22% across the board.
Mortgage industry participants have been on high alert since Powell’s comments last week on the likelihood of rate hikes. News reports and industry banter have suggested Powell’s remarks have interpreted to mean inflation could become a driving factor in the future for any rate modifications.
Mortgage industry stakeholders have a keen eye on developments in this ongoing story and remain faithful that mortgage rates could continue level or decrease through 2023.
Major Takeaways:
– Mortgage rates this week have largely remained unchanged
– Driven by investors attempting to interpret comments from Chair of the Federal Reserve, Jerome Powell
– Suggestions that inflation could become a driving factor for rate modifications going forward
– Mortgage industry stakeholders hopeful for levels or decreases of mortgage rates through 2023
You can read this full article at: https://www.housingwire.com/articles/mortgage-rates-stay-put-this-week/(subscription required)
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