Former Federal Reserve Bank of St. Louis President and CEO James Bullard weighs in on the upcoming rate decision, analyzes jobs data and reacts to Yellen’s real estate development.
Mortgage rates were mixed this week, with the standard 30-year bond down slightly for the fourth consecutive reading, while short-term rates edged higher.
Freddie Mac’s latest survey of the primary mortgage market, released Thursday, showed that the average rate on the benchmark index 30-year fixed mortgage fell to 6.86% this week from 6.87% last week. The average rate for a 30-year loan was 6.71% a year ago.
A “For Sale” sign hangs in front of a home in San Mateo County, California, on August 22, 2023. (Liu Guanguan/China News Service/VCG via Getty Images / Getty Images)
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In contrast, the average rate for 15-year fixed-rate mortgages increased to 6.16% from 6.13% last week. A year ago, the 15-year fixed note rate averaged 6.06%.
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