This was supposed to be the year that U.S. mortgage rates soared. Instead, they’re retreating.
Interest rates unexpectedly fell this year after the Federal Reserve began scaling back the stimulus that held borrowing costs near record lows since 2011. After five weeks of declines, rates for 30-year fixed loans are at 4.12 percent, the lowest in seven months, Freddie Mac said yesterday.
Read the full report here.
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