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Key rate stays low over the week


Key rates remained stable in the week after falling the previous six weeks, Freddie Mac report.

As of Thursday, the 30-year fixed rate remained at 4.45 percent, Freddie reported. The 15-year fixed rate dropped one basis point to 3.88 percent, and 5-year adjustable rate mortgages increased four basis points to 3.87 percent.  

“Weaker manufacturing data and a more dovish tone from the Federal Reserve left mortgage rates unchanged relative to last week,” said Sam Khater, Freddie’s chief economist.  “However, interest rate-sensitive sectors of the economy – such as consumer mortgage demand and homebuilder construction sentiment — are on the mend, which indicates that lower interest rates are beginning to have a positive impact on some segments of the economy.”


 

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