Last week mortgage rates moved up slightly. The new chair of the Fed, Janet Yellen, had her first testimony before congress and indicated that the economy was still moving in the right direction even though economic indicators pulled back slightly. More importantly her tone led prognosticators to believe that the Fed won’t change their course any time soon so rates will stay low. Look for rates to remain fairly stagnant with slight moves each way depending on the reported data. See current information at the Wall Street Journal Market Data page.
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