Mortgage Rates Plunge as Wall Street Worries About Covid-19 Resurgence
The rate dropped almost a tenth of a percentage point as bond investors worried about a jump in Covid-19 infections.
April 15, 2021 2 MIN
The rate dropped almost a tenth of a percentage point as bond investors worried about a jump in Covid-19 infections.
The average U.S. FICO score rose to 710 in 2020 from 703 in 2019 while late payments and credit utilization dropped as Americans hunkered down during the Covid-19 pandemic.
The IMF upgraded its economic growth forecast, saying the U.S. will lead developed nations with a 6.4% surge in GDP this year, faster than the 6% global pace.
The average U.S. rate for a 30-year fixed mortgage fell to 3.13% this week, the first drop since early January, Freddie Mac said in a report on Thursday.
Bloomington and Iowa City are the best markets in the U.S. for first-time homebuyers, according to realtor.com's ranking of cities by affordability, inventory, and job opportunities.
The economy added 390,000 jobs in May, giving leeway to Federal Reserve policymakers to pursue an aggressive plan to tighten monetary policy.
Mortgage rates in the U.S. dropped to a one-month low this week as investors diverted more money to the bond markets.
Economic confidence in the U.S. reached the lowest level since 2009, according to a Gallup poll conducted last month.
U.S. home prices gained 20.6% in March from a year earlier, the fastest national pace on record, according to S&P CoreLogic Case-Shiller Indices.
