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Article: Run of Lower Long-Term Rates Ends; Fed & Katrina Still Questions.
- Article from:
- National Mortgage News
- Article date:
- September 19, 2005
- Author:
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Mortgage rates rose last week - to 5.74% from 5.71% - for the first time in five weeks. In addition, the long-term rate-indicative 10-year Treasury yield - which has traded as low as near 4.0% recently - was notably higher at press time when it was trading near 4.18%.
"Mortgage rates were relatively unchanged this week as the markets wait for the results of the upcoming Federal Reserve Policy Committee meeting," said Frank Nothaft, vice president and chief economist at Freddie Mac, in his weekly report. "Core Consumer Price Index released this week came in lower than had been expected, which led the market to believe that the Fed has further room to take a pause ...