Mortgage rates remained stagnant for the week ending March 31 amid recent comments from Federal Reserve Chair Janet Yellen, according to Freddie Mac’s latest Primary Mortgage Market survey.
Earlier this week, Yellen gave a speech to the Economic Club of New York, which was the first time she went on the record since the last FOMC meeting.
In her speech, Yellen said, the U.S. central bank should proceed “cautiously” as it looks to raise interest rates again because inflation has not yet proven durable against the backdrop of looming global risks to the U.S economy.
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