Freddie Mac: Mortgage rates down again despite new cut in Fed stimulus

Julie C. Nichols General

LA Times – E. Scott Reckard

The great rate freakout of June 2013 looks awfully panicky in the rearview mirror, with fixed mortgages now far cheaper than they were back then.

It’s been a full year since the Federal Reserve unnerved home lenders and buyers by announcing it would choke back a stimulus program that had sent long-term borrowing costs to record lows.

The average 30-year mortgage rate leaped from 3.93% to 4.46% that week, according to Freddie Mac’s survey — the biggest weekly jump since 1987.

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