Connect with us

International

Long-term mortgage rates in the United States are relatively stable this week

Published

on

 


The average interest rate on long-term mortgages in the United States remained stable this week, after the Federal Reserve suggested it would start tightening credit by raising its benchmark rate

By MATT OTT AP Business Writer

2 December 2021, 15:15

2 minutes to read

Share on FacebookShare on TwitterSend this article

SILVER SPRING, Maryland – The average interest rate on long-term mortgages in the United States remained stable this week, after the Federal Reserve suggested it would start tightening credit by raising its benchmark rate.

Mortgage buyer Freddie Mac reported Thursday that the average 30-year fixed-rate benchmark home loan rate rose slightly to 3.11% from 3.10% last week. A year ago, the rate was 2.71%.

The boiling US housing market has been fueled by low interest rates and pent-up demand from consumers who have spent much of the past year and a half stranded in their homes and looking for more space. However, a limited supply of available housing and a sharp rise in prices have left many potential buyers on the sidelines.

Earlier this week, Fed Chairman Jerome Powell signaled a sharp shift towards a credit crunch faster than the Fed previously indicated. Powell said on Tuesday that it would be appropriate for the central bank to consider ramping up its bond purchases at its next meeting in mid-December. This would pave the way for a hike in its key rate by the Fed in the spring.

Many economists expect U.S. interest rates to rise in the coming months as the Fed pulls out of the easy money policies it adopted after the coronavirus outbreak ravaged the economy American in the spring of 2020.

Strong consumer demand and persistent supply shortages have pushed up prices for just about everything. The government announced last month that prices for U.S. consumers jumped 6.2% in October from a year earlier, resulting in the highest rate of inflation since 1990.

Freddie Mac reported that 15-year fixed-rate mortgage rates edged down to 2.39% from 2.42% last week. This rate was 2.26% a year ago.

Sources

1/ https://Google.com/

2/ https://abcnews.go.com/Business/wireStory/us-long-term-mortgage-rates-flat-week-81516941

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]etingcompany.BizWebsite: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]