Mortgage Rates Thursday, Feb. 2: Lower Today; FHA Applications Plummet

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Thirty-year fixed, 15-year fixed and 5/1 ARM rates were all lower today,?according to a NerdWallet?survey of current home loan rates authored by national lenders Thursday morning.

As was widely anticipated, the Federal Reserve left short-term rates of interest unchanged yesterday. Having a handful of positive reports around the economy lately, pressure is building for mortgage rates to move higher. Generally, good news for that economy isn’t good news for home loan rates.

After moving higher two weeks ago, rates for 30-year fixed-rate loans happen to be bouncing within a narrow range. A powerful jobs report from the Department of Labor tomorrow could break the recent meandering rate trend.

Mortgage Rates Today,
Thursday, Feb. 2

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