Usually when markets are screwed mortgage rates go down. The markets are SOO screwed that everyone is trying to refinance, it actually caused mortgage rates to go up by about a half a percent since Monday. This is all so bizarre.
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I do agree tho that usually a fed drop means mortgage drop since the same bad thing driving feds to cut rates is likely also pressuring markets.
Yeah, I'm just talking about a likely effect of a likely event (actually parroting what my investment adviser said to me this morning), not trying to imply they're directly linked
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Step 1 has happened https://www.cnbc.com/2020/03/15/federal-reserve-cuts-rates-to-zero-and-launches-massive-700-billion-quantitative-easing-program.html …. Now we'll see if mortgage rates follow suit
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I saw that. I'm seeing rates down, but not quite the levels of last monday. 3.375% is what i'm seeing now in a few places.
End of conversation
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