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What mortgage rates is the Federal Reserve offering?

The Federal Reserve doesn't set mortgage rates. Federal Reserve policies do influence the overall price of money in the marketplace as they manipulate the Federal Funds and Discount rates. The Federal Funds rate (an interest rate on overnight loans made between banks) -- and the Discount rate (a bank's cost of borrowing money from the Federal Reserve directly) both serve to increase or decrease a bank's costs of borrowing money to lend. Mortgage rates are a different story, though, anc a much more complex one. To gain a working understanding, you should read the article present in the 'recommended reading' section below.

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Keith Gumbinger
Keith Gumbinger
Mortgage Expert
Vice President, HSH.com
About Keith: Mortgage market observer and analyst with 35 years experience... (more)
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Q: We just sold our house. When do we have to pay the IRS?
JAN 20, 2021
A:

Capital gains taxes as they apply to your principal residence can be found in IRS Publication 523.

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Q: How do I find out who owns my mortgage?
MAR 15, 2021
A:

The owner of the loan is most often the "investor" -- the entity who put up the actual funds to make your mortgage happen.

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Q: Does mortgage insurance assist the survivors of a deceased policy holder?
JAN 20, 2021
A:

Credit life insurance is sold to homeowners as a means to pay off the mortgage in the event of the death of the homeowner.

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