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Mortgage Rates Hold Mostly Steady Amid Omicron, Fed Worries

Long-term mortgage rates have hovered nearly in place during a week when the first U.S. case of the Omicron variant was found and the Federal Reserve suggested that it would begin tightening credit sooner than previously indicated. So reports MarketWatch.

corona 4893276 640 small 585x336According to Freddie Mac, the 30-year, fixed rate mortgage averaged 3.11% in the week ending December 2, an increase of one basis point from the week before.

Freddie Mac chief economist Sam Khater said in a statement, “​​The consistency of rates in the face of changes in the economy is primarily due to the evolution of the pandemic, which lingers and continues to pose uncertainty.”

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