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Mortgage interest rates move down slightly again
Interest rates for buying a home on the Palos Verdes Peninsula stayed steady this week but the rate of increases is slowing and may decline slightly next week. The following are excerpts from the newsletter on interest rates published by HSH Associates :
" In recent weeks we've seen a number of economic conditions that have helped mortgage rates reverse course, at least a little. Of course, shaving about an eighth of a percentage point off a 61 basis point rise in 2018 isn't much of a retreat, but homebuyers and even some refinancers in the market welcomed the chance at a slightly lower rate in the last couple of weeks.
A few factors have contributed to this minor decline: The Fed has so far expressed a willingness to let inflation run a little warmer than they would prefer for a time without a stronger policy response; oil prices have settled back for several weeks in a row after steadily rising for about three months, quelling concerns of faster inflation; trade and tariff issues plus unsettled politics and stumbling economies outside the U.S. have seen investors express their concerns by plowing money into the shelter of U.S.-backed bonds, driving yields down and pulling ... more

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