Why industry watchers expect mortgage rates to fluctuate in coming weeks
Mortgage rates, which climbed one day and dropped the next after the bank failures, will be volatile before stabilizing, experts say.
Mortgage rates, which climbed one day and dropped the next after the bank failures, will be volatile before stabilizing, experts say.
The Fed has decided to forge ahead in its fight against inflation, despite several bank closures that have caused turbulence in the financial markets.
A toned-down Fed rate increase and a stampede into bonds could lead to lower mortgage rates.
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“Overall, consumers are spending in sectors that are not interest rate sensitive, such as travel and dining out. However, rate-sensitive sectors, such as housing, continue to be adversely affected,” he continued. “As a result, would-be homebuyers continue to face the compounding challenges of affordability and low inventory.” Marty Green, principal at Polunsky Beitel Green, added … [Read more…]
Plus, what role the FDIC plays in it all.