Morning Minute: Unexpected dip in mortgage interest rates gives consumers more buying power

Some economists had forecast that mortgage interest rates would steadily climb in 2014, but so far, that hasn’t happened. In fact, the opposite is true. In recent weeks, interest rates have trended downward, prompting an increased interest in mortgage financing and re-financing, according to an article, “Mortgage rates defy forecasts,” in today’s Chicago Tribune. And last week, Freddie Mac reported that the 30-year, fixed-rate mortgage averaged 4.21 percent, the lowest it has been this year.

In other headlines:

3 things to know about interest rates for the rest of 2014 – HousingWire

Harvard: 5 Financial Reasons to Buy a Home – KCM Blog

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