Morning Minute: Unexpected dip in mortgage interest rates gives consumers more buying power

Some economists had forecast that mortgage interest rates would steadily climb in 2014, but so far, that hasn’t happened. In fact, the opposite is true. In recent weeks, interest rates have trended downward, prompting an increased interest in mortgage financing and re-financing, according to an article, “Mortgage rates defy forecasts,” in today’s Chicago Tribune. And last week, Freddie Mac reported that the 30-year, fixed-rate mortgage averaged 4.21 percent, the lowest it has been this year.

In other headlines:

3 things to know about interest rates for the rest of 2014 – HousingWire

Harvard: 5 Financial Reasons to Buy a Home – KCM Blog

This entry was posted in Consumer Information, Housing Market by Stephanie Sievers. Bookmark the permalink.

About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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