Mortgage Rates May Reach a Record Low
Two months when the Federal Reserve raised its funds rate, mortgage rates began a free fall.
“Mortgage rates are going down again, and it’s good for borrowers, but is it really good for the housing market and the broader economy? The answer is no,” said Guy Cecala, CEO and publisher of Inside Mortgage Finance.
Investors are flooding the U.S. bond market which is causing the mortgage rates to fall.
Image via Flickr/Chris Potter