The Federal Reserve has another decision approaching, but agents watching only its next announcement could miss a reason mortgages remain expensive. Freddie Mac reported an average 30 year fixed mortgage rate of 7.40% on October 15, unchanged from the previous week. The Fed meets October 27 and 28, after raising its benchmark rate by a quarter percentage point in September. Meanwhile, September consumer prices rose 3.7% from a year earlier, according to the Bureau of Labor Statistics. That keeps inflation…
MarketNational
Mortgages Are Stuck at 7.4%. The Fed Isn’t the Only Reason Buyers Are Paying More.
The Federal Reserve has another decision approaching, but agents watching only its next announcement could miss a reason mortgages remain expensive.
