Mortgages Just Hit 7.49%. Can Today’s Fed Minutes Offer Any Relief?

Mortgage borrowers are waiting for relief. Wednesday’s Federal Reserve minutes may offer clues, but they will not deliver a new mortgage rate. The September meeting minutes are scheduled for October 7 at 2 p.m. Eastern, or 11 a.m. Pacific. At publication this morning, they have not been released. Any account claiming to explain their contents would be premature. What is clear is the pressure on buyers. The Mortgage Bankers Association’s survey put the average contract rate for conforming 30 year…

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