Stronger economy boosts mortgage rates: Freddie Mac

Loan Limits Got Boosted For 2018 - Today's Mortgage & Real Estate News - Growella WASHINGTON – Long-term U.S. mortgage rates jumped this week, marking their highest levels in seven years amid the peak home buying season. The benchmark 30-year rate pushed toward the significant 5%.

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 · Freddie Mac – Mortgage Rates After climbing quickly at the start of 2018, mortgage rates have hovered in the 4.54 to 4.66 percent range since the end of April.

After a month of increases, mortgage rates retreated this week. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average. But, combined, they gave off mixed.

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In addition to their mortgage rate forecasts for 2019 and 2020, Freddie Mac’s research team shared a number of trends and predictions in their latest report. Here are some highlights: They predicted that the nation’s GDP growth will slow to a rate of 2.5% in 2019, followed by a rate of 1.8% in 2020.

In fact, Freddie predicts the 30-year fixed-rate mortgage will average 4.3% for the remainder of the year, which could lead to an increase in both single-family mortgage originations and refinances.

WASHINGTON (Reuters) – U.S. home resales rose in May to a more than nine-year high amid low mortgage rates, pointing to sustained housing market strength that should keep the economy on solid ground..

Mortgage rates will increase gradually through 2016 in response to monetary tightening – we’re forecasting the 30-year rate will average 4.4 percent for the year. House Prices The imbalance between housing demand and supply continues to boost prices.

So, we’re no longer getting out of the recession, really, but we’ve got a very strong economy at our tail." Most economists expected to see interest rates rising and the growth of the economy to slow a bit, he said – but that hasn’t happened: "What we’ve seen is a lot of that growth, the strength of the job market, the strength in the economy and the low interest rates, extend into 2019 as well.

 · "We expect single-family mortgage originations to increase 2.6 percent to $1.69 trillion in 2019 and remain around that level in 2020," said Sam Khater, Chief Economist, Freddie Mac.

Freddie Mac affects the U.S. economy by lowering interest rates. That makes more loans available to more new homeowners. That makes more loans available to more new homeowners. For example, reducing the rate from 8.5% to 8% allowed an additional 791,000 moderate-income families to buy homes.

Freddie Mac’s Economic Research Group says in its January forecast that much of the volatility in the mortgage market since the end of the year has arisen out of speculation about the Federal.