Mortgage Interest Rates Hit A 15-mo low, Wall Street On Edge After A Week Of Wild Swings, Unemployment Uptick May Pressure Fed To Cut Interest Rates Aggressively
This week, mortgage rates hit their lowest point in 15 months, according to Freddie Mac, with the average rate for a 30-year fixed-rate mortgage dropping to 6.47%, down from 6.73% the week prior. This decline in mortgage rates comes after weaker-than-expected employment data increased the possibility of the Fed cutting interest rates soon.
After a wild week in the markets that rekindled fears about the strength of the economy, investors are wondering what comes next.
Until recently, Wall Street was focused squarely on inflation, hoping that its slowdown would lead the Federal Reserve to cut interest rates, giving sup-port to stocks. And now? (