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Stock impact report

Mortgage rates tick higher but remain near 2025 lows [FOX Business Network]

loanDepot, Inc. Class A (LDI) 
Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage increased to 6.22% from last week's reading of 6.19%. The average rate on a 30-year loan was 6.6% a year ago. "The average 30-year fixed-rate mortgage is well below the year-to-date average of 6.62%, providing some sense of balance to the housing market," said Sam Khater, Freddie Mac's chief economist. The average rate on the 15-year fixed mortgage rose to 5.54% from last week's reading of 5.49%. Freddie Mac's latest data comes a day after the Federal Reserve lowered the benchmark interest rate by 25 basis points to a new range of 3.5% to 3.75%. The move follows rate cuts of that size in September and October, which were the first of the year. Mortgage rates are not directly affected by the Fed's interest rate decision, but closely track the 10-year Treasury yield. The 10-year yield hovered around 4.15% as of Thursday afternoon. "With the Show less Read more
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