Politics & MoneyMortgage

5% mortgage rates no longer on the horizon

Mortgage interest rates were creeping eerily close to 5% this past month, causing concerns about home affordability. But since the Fed decided it would not start tapering its asset purchases, timid borrowers are getting a second chance at lower rates, CNNMoney reports.

But now that the Fed has said it will continue to purchase the bonds, rates will likely retrace some of those gains, said Keith Gumbinger of mortgage information provider HSH.com.

"Now, we do have some space for rates to fall," he said. "I don't expect a plummet, just a drop of 0.1 percentage points or so over the next week or two."

Most Popular Articles

Caliber Home Loans CEO Sanjiv Das steps down

Sanjiv Das, CEO of Caliber Home Loans, is stepping down as CEO of the company, less than one year after New Residential Investment Corp. (Newrez) acquired the mortgage lender and servicer, sources familiar with the situation confirmed. 

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please