Poll: Where are mortgage rates headed?
Where are mortgage rates headed in the next 6 months? Credit: iStock
U.S. mortgage rates hit a two-year high last week, driven up by speculation that the Federal Reserve will slow its bond purchases later this year. The Fed has been buying $85 billion in bonds every month to hold down interest rates and encourage lending.
Mortgage buyer Freddie Mac said the average rate on the 30-year loan jumped to 4.58 percent. Where do you think mortgage rates are headed? Vote and leave a comment; results and a selection of comments will be published in next Sunday's business section.
Out East Show: Visit The Shamrock evergreen maze, Sannino Vineyard, Seven Ponds Orchard and the Warrior Ranch Foundation NewsdayTV's Doug Geed is heading 'Out East' to showcase the ultimate local spots you need to explore.
Out East Show: Visit The Shamrock evergreen maze, Sannino Vineyard, Seven Ponds Orchard and the Warrior Ranch Foundation NewsdayTV's Doug Geed is heading 'Out East' to showcase the ultimate local spots you need to explore.
