James Bullard, former president and CEO of the Federal Reserve Bank of St. Louis, looks ahead to the next interest rate decision, analyzes employment data, and reacts to Chair Yellen’s housing development policy.
Mortgage rates were mixed this week, with the standard 30-year note rate declining slightly for the fourth straight week, while shorter-term rates rose slightly.
Freddie Mac’s latest primary mortgage market survey released Thursday showed that the average benchmark interest rate was 30-year fixed rate mortgage That’s down to 6.86% this week from 6.87% last week. The average rate on a 30-year mortgage was 6.71% a year ago.
A for sale sign sits in front of a home in San Mateo County, California, on August 22, 2023. (Liu Guangguan/China News Service/VCG via Getty Images/Getty Images)
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Meanwhile, the average rate on a 15-year fixed mortgage rose to 6.16 percent from 6.13 percent last week. A year ago, the average rate on a 15-year fixed loan was 6.06 percent.
