Mortgage Rates Stage a
Pullback
Mortgage interest jumped in June of last year, after then-Federal Reserve head Ben Bernanke indicated that rates were poised to return to normal levels after hitting historic lows. The 30-year fixed rate, which had averaged 3.54 percent in the month before Bernanke's remarks, quickly rose to as much as 4.49 percent. The escalation helped end the refinancing boom. However, a weak 2014 first quarter and lukewarm demand to buy homes have again driven interest rates back down below year-ago levels.
From "Mortgage Rates Stage a Pullback"
Investor's Business Daily (07/08/14) P. A2 Riquier, Andrea
Mortgage interest jumped in June of last year, after then-Federal Reserve head Ben Bernanke indicated that rates were poised to return to normal levels after hitting historic lows. The 30-year fixed rate, which had averaged 3.54 percent in the month before Bernanke's remarks, quickly rose to as much as 4.49 percent. The escalation helped end the refinancing boom. However, a weak 2014 first quarter and lukewarm demand to buy homes have again driven interest rates back down below year-ago levels.
From "Mortgage Rates Stage a Pullback"
Investor's Business Daily (07/08/14) P. A2 Riquier, Andrea
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