Mortgage rates in the US have been relatively stable for some time. The Federal Reserve has kept the target federal funds rate at a band of 5 – 5.25%, which has kept mortgage rates from rising or falling significantly.
Economists predict there is likely to remain a relative lack of movement in mortgage rates in the coming months. They suggest this is likely to remain the case until the Fed changes the federal funds rate. Key points in this summary regarding Mortgage Rates in the US include:
• The Federal Reserve has kept the rate in a band of 5 – 5.25%
• Rates have stayed relatively stable for some time
• Economists predict mortgage rates will remain relatively flat for the next couple of months
• Federal funds rate must change for there to be significant movement in mortgage rates
You can read this full article at: https://www.housingwire.com/articles/fed-pauses-rate-hikes-in-june-but-how-long-will-it-last/(subscription required)
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