That's because the Federal Reserve is keeping interest rates extremely low, a move that it hopes will boost the economy by encouraging individuals and businesses to borrow money and spend. Mortgage rates continue to creep lower. The average interest rate for a 30-year fixed mortgage in December, the close of the fourth quarter, was 3.35 percent, according to Freddie Mac. In September, the close of the third quarter, it was 3.47 percent.It's difficult to predict how long the low interest rates will last, which makes it difficult to predict how long refinancing can power mortgage results.
Wells Fargo Shoots To Higher Profit, Revenue
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