Mortgage Rate News: While analysts expected a slowing in home sales reports indicate home resales are steady despite mounting interest rates. Sales of existing homes set a new recovery high in August increasing to 1.7%.
The Fed chose to stay the existing market stimulus this week while average U.S. rates on fixed mortgages continued to decline this week amid signs that the economy may be slowing. In lue of the steady mortgage drop mortgage business experts say it's a good time for consumers to get mortgage rates. - Refinancial News Update