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Weekly Mortgage Rates Tick Lower Ahead of Fed Meeting

U.S. long-term mortgage rates have posted another stable week as the Federal Reserve heads into its December 14-December 15 meeting. So reports the Associated Press.

Freddie Mac 150x150According to Freddie Mac, the 30-year fixed-rate mortgage averaged 3.10% in the week ending December 9, down one basis point from the previous week and well above the 2.71% rate at the same time last year.

Fed chair Jerome Powell recently said it would be “appropriate” for the central bank to discuss speeding up its tapering of bond purchases at the upcoming meeting, potentially meaning the Fed could hike interest rates by spring.

Read the full article from Associated Press.

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