Hot economic data pushed mortgage rates back up at the end of last week, and they've inched even higher this week.
Mortgage rates aren't directly impacted by Fed rate changes, but investor expectations of how Fed policy decisions will impact the overall economy can push mortgage rates up or down.
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15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 5.94% last week, according to Freddie Mac data, which is a two-basis-point decrease from the previous week.
Now that the Fed has paused hiking rates, mortgage rates have come down a bit.
Persons:
they've, Jerome Powell, Powell, Freddie Mac
Organizations:
of Labor Statistics, Fed, Zillow, Federal Reserve
Locations:
Chevron