Despite Economic Improvements
Fixed mortgage rates slipped further down, maintaining their near-record low averages despite evidence of an improving economy, according to Freddie Mac’s Primary Mortgage Market Survey.
“The Fed stated that it expects economic growth to remain moderate and then pick up gradually. In addition, it noted that labor market conditions have improved in recent months and it anticipates the unemployment rate will decline gradually,” said Frank Nothaft, VP and chief economist for Freddie Mac.
Nothaft also mentioned the FHFA house price index, which showed a 0.3 percent monthly increase for February, and the S&P/Case-Shiller 20-city indexes, which showed 12 out of 20 metropolitan areas saw monthly gains.
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