AgentIndustry News

Fed caught in economic tug of war

Greenspan strategizes how to set 'neutral' cost of money
Published on Apr 30, 2004

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by CareyBot

Inflation data and deepening worries about the Fed's intentions have taken mortgage rates higher again.

A one-point loan fee (whether called "origination," or described in plain English) will still get a 5.87 percent 30-year rate, but the low-fee deals are almost to 6.25 percent, up from the March low at 5.37 percent. The adjustable-rate-mortgage market is worse: a point will buy a Fannie/Freddie 5-year at 4.62 percent now, more than a percent north of the March low ...

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