(Reuters) - Reports that existing home sales dropped in May as part of
what Freddie Mac calls "the current housing recession" helped
mortgage rates ease. The mortgage giant also said the market is
waiting to see if the Federal Reserve changes its monetary
policy at the conclusion of its meeting on Thursday.
"Mortgage rates edged down slightly for the second week in
a row after having risen over the previous month and a half,
and as financial markets prepared for the June 28 Federal Open
Market Committee's announcement on monetary policy," said Frank
Nothaft, Freddie Mac vice president and chief economist.
Read more at Reuters.com Bonds News
what Freddie Mac calls "the current housing recession" helped
mortgage rates ease. The mortgage giant also said the market is
waiting to see if the Federal Reserve changes its monetary
policy at the conclusion of its meeting on Thursday.
"Mortgage rates edged down slightly for the second week in
a row after having risen over the previous month and a half,
and as financial markets prepared for the June 28 Federal Open
Market Committee's announcement on monetary policy," said Frank
Nothaft, Freddie Mac vice president and chief economist.
Read more at Reuters.com Bonds News
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