Federal Reserve Chairman, Ben Bernanke has slashed the federal funds target rate by 3 full percentage points bringing it to 2.25 percent, since September. But with the central bank’s aggressive action, prospective homebuyers are left confused. The average interest rate on a 30-year, fixed-rate mortgage has fallen by only about half a percentage point, to 5.85 percent, since mid-September. So what are the factors that are influencing the mortgage rates?
For a look into the factors that are influencing today’s mortgage rates click here
