Mortgage Rates Trimmed

Mortgage rates trimmed some of their recent rise last month. Economic news continues to be tepid, although somewhat better in tenor than that seen over the last few months. In a speech before the monetary conference in Jackson Hole, Wyoming, Fed Chairman Bernanke reiterated the Federal Reserve stands ready to adjust policy to foster stronger economic growth. The message was exactly the one the Fed has been using for a while, but since the Chairman himself uttered it, some analysts believe there is an increased likelihood the Fed will embark on a new program to stimulate the economy before too long. As far as mortgage rates go, they could hardly be better, anyway.