(Adds quote, adds table) NEW YORK, June 29 Interest rates on U.S. 30-year mortgages fell to their lowest levels in more than seven months in
(Adds quote, adds table) NEW YORK, June 29 Interest rates on U.S. 30-year mortgages fell to their lowest levels in more than seven months in step with lower U.S. Treasury yields earlier this week, Freddie Mac said on Thursday. Benchmark government note yields, however, jumped to their highest level in more than a month on Thursday in a global bond market selloff, prompted by concerns the era of easy money might be drawing to close following hawkish rhetoric from several major central banks. "Mortgage rates may increase in next week's survey if Treasury yields continue to rise," Freddie Mac chief economist Sean Becketti said in a statement. The borrowing cost on 30-year mortgages, the most widely held type of U.S. home loan, averaged 3.88 percent in the week ended June 29, which was the lowest since 3.57 percent in the Nov. 10, 2016 week. Last week, the average 30-year rate was 3.90 percent, the mortgage finance agency said. On Thursday, 10-year Treasury yield touched 2.297 percent, matching the level last seen on May 24. It has risen 12 basis points since Tuesday, Reuters data showed. Below are the latest average mortgage rates in the week of June 29 Freddie Mac tracked: Loan type Latest Previous Year-ago week (pct) week (pct) (pct) 30-year fixed 3.88 3.90 3.48 15-year fixed 3.17 3.17 2.78 5-year adjustable 3.17 3.14 2.70 (Reporting by Richard Leong; Editing by Chizu Nomiyama and Grant McCool)
Fed’s Bullard: Five years minimum to normalise balance sheet size
LONDON, June 29 It will take at least five years for the U.S. central bank to trim its balance sheet to a conventional size that would give it room to undertake quantitative easing again in the future, St. Louis Federal Reserve President James Bullard said on Thursday.
Fed’s Bullard says needs strong data to go it alone among global central banks
LONDON, June 29 The U.S. Federal Reserve can go it alone on monetary policy among global central banks but strong data is needed for that to continue, St. Louis Federal Reserve chief James Bullard said on Thursday.