Mortgage rates inched down last week, after a slight increase the week before. “While mortgage rates have resumed their decline, the market remains hypersensitive to rate movements, with purchase demand experiencing large swings relative to small changes in rates,” said Sam Khater, Freddie Mac’s chief economist. “Over the last few weeks latent demand has been on display with buyers jumping in and out of the market as rates move,” he added.
“The Freddie Mac fixed rate for a 30-year loan has been moving up and down in the 6% to 7% range since September 2022 when it crossed the 6% threshold for the first time in 14 years,” Ratiu said. “Mortgage rates have mirrored the volatility in the 10-year Treasury, as investors wrangle mixed expectations amid an inflow of new economic numbers.” The Fed does not set the interest rates borrowers pay on mortgages directly. But its actions influence them.
Biden's economic policies are the worst in the history of America!