Why have mortgage rates dropped further today?

Real Estate Agent with RE/MAX 1st Class 0542725


Great points you make.  I get asked why rates go up and down all of the time.  I think these are great answers, but on some level, I suspect the correct answer is that there is a dude with a marionette controlling all the markets.  He is toying with us. ;-)



Original content by Richard Weeks 0488515
Mortgage rates have dropped further today due to:
a. Fall in the stock market
b. lower inflationary expectations
c. Federal Reserve purchase of mortgage backed securities
d. Federal Reserve purchase of long term bonds
e. Federal Reserve sale of short term bonds
f. all of the above
Lender Craig Jerrell says
The correct answer is f. "all of the above". 30 year fixed rates have fallen to 3.75% from 4.00% with the Fed actions.
It is hopeful this will spur sales, but unemployment, deflationary thinking and consumer confidence are still dragging the purchase market.
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Comments (1)

Tami Saner
Realty ONE Group Complete

Now just only if we can get these short sales approved the buyers could take advantage of these great rates.

Sep 26, 2011 05:32 PM