Mortgage rates tilt towards 7% as the 10-year treasury yield jumps
Mortgage rates continued to inch towards 7% this week as the 10-year treasury yields climbed past the 4% threshold.
Source: housingwire.com
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Top News In Keeping Current Today - Breaking & Trending Today
Federal Reserve's New Instant Payment System FedNow® Service Goes Live - Financial Services
On July 20, the Federal Reserve launched FedNow®, its new system for instant payments. FedNow® permits banks and credit unions to instantly transfer their customers' money...
Source: mondaq.com
Mortgage rates inch closer to 7%
The 30-year fixed rate averaged 6.81% this week, up from last week’s 6.78%. Rates are expected to remain elevated for the foreseeable future.
Source: housingwire.com
Fed hikes rates amid general wave of optimism
The Federal Reserve (Fed) raised the federal funds rate 25 basis points to the 5.25 to 5.5% range on Wednesday, its highest level in 22 years.
Source: housingwire.com
New home sales rose 12% in May
Census data on new home sales in May 2023 rose 12.2% from April 2023, continuing a three-months growth spurt.
Source: housingwire.com