FOMC

Mortgage rates rose slightly for the second consecutive week, but should remain low for the foreseeable future, which will aid the purchase market, according to Freddie Mac.

Average mortgage rates fell by their largest amount in more than 10 years last week as bond yields fell in reaction to the March 20 Federal Open Market Committee meeting.

There was a huge rise in mortgage refinance application activity due to the large drop in interest rates following last week's Federal Open Market Committee meeting.

The 30-year mortgage rate dipped lower than it was 12 months ago for the third week running, according to Freddie Mac's latest report.

The Federal Reserve will roll its maturing holdings of mortgage-backed securities into Treasuries starting after September, capping it at $20 billion per month.

Mortgage rates declined across the board this week, which should make home buying more attractive although there are continuing concerns about inventory, according to Freddie Mac.

Mortgage rates declined for the third straight week, adding to a brighter outlook for the spring home buying season, according to Freddie Mac.

Mortgage rates moved up slightly after weeks of moderating, but are still low enough not to affect the upcoming prime home buying period, according to Freddie Mac.

It's not clear exactly what might pull investor sentiment and 10-year Treasury yields, which rates for the 30-year mortgage are benchmarked to, off the current lows.

Mortgage rates continued to drop this week with the positive effects already aiding housing, according to Freddie Mac.