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Mortgage Rates Fall Again After The Fed’s Latest Dramatic Response To Coronavirus

See Today Mortgage Rates Here or call 888-220-6680

Mortgage rates fall again after the Federal Reserve’s latest dramatic policy moves to combat The economic impact from the deadly coronavirus pandemic.

The Fed on Sunday said it will begin buying $200 billion of mortgage-backed bonds,

A move that will stabilize and lower mortgage rates, which moved sharply higher last week.

Mortgage rates had fallen to a record low two weeks ago, but a flood of refinance applications Overwhelmed lenders and caused investors in mortgage-backed bonds to back off.

That, in turn, caused mortgage rates to jump more than 50 basis points in one day and hit Their January high by the end of last week. The Fed’s move will likely reverse that course yet Again.

The Federal Reserve made another emergency cut to interest rates on Sunday, slashing the Federal funds rate by 1.00 percent to a range of 0-0.25 percent. ... Lower Rates encourage More money into the economy, inducing businesses to invest and consumers to spend and Borrow. That keeps money flowing through the economy.

See Today Mortgage Rates Here or call 888-220-6680

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