FED Chair Janet Yellen Speaks on Rates

Federal Reserve Chairlady Janet Yellen reported the fact that weak job growth and slow salary growth are affecting the job market, and that recently published housing reports have been weaker than the previsions to year: “the recent flattening out in housing activity could prove more protracted than currently expected, rather than resuming its earlier pace of recovery.”

Freddie Mac reported the following rates: standard 15 year fixed home loan dropped from 3.38 percent to 3.32 percent. Freddie Mac, also reported that the mortgage interest rate for the standard 30 year fixed loan dropped from 4.29 percent to 4.21 percent.

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