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Mortgage Rates Shift Direction, Trend Upward

After a three-week slide, Freddie Mac reports the fixed-rate mortgage rose four basis points week-over-week, and despite affordability headwinds, buyers have driven new home sales to levels seen in more than 12 months.

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David Smith Appointed Head of Truist Mortgage

A veteran of two decades in the industry, David Smith is promoted to new role with Truist, leading strategy and execution for all areas of mortgage including originations, fulfillment, nationwide direct channels, correspondent, warehouse lending, and servicing.

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Federal Reserve: No Rise in Interest Rates This Month

“The Committee seeks to achieve maximum employment and inflation at the rate of 2% over the longer run. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 5.00% to 5.25%,” the Fed said in a prepared statement.

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