National mortgage rates were mostly down compared to a week ago, according to Bankrate data. Rates for 15-year fixed, 5/1 ARMs and jumbo loans moved lower, while rates for 30-year fixed mortgages rose.
several factors move mortgage rates, some more impactful than others. The Federal Reserve capped off 2024 with a third rate cut, yet mortgage rates have only climbed. The next Fed announcement comes Jan. 29. Thirty-year mortgage rates tend to track the 10-year Treasury yield, which shifts continuously alongside the economy and the forces that shape it. More recently, rates have been driven by factors like inflation, a changing White House and geopolitical developments abroad.
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