Mortgage rates could be even lower, but lenders are struggling to keep up with demand

KASA Real Estate Team Mortgage Rates Leave a Comment

A sharp drop in mortgage interest rates has sparked a sudden and unexpected refinance boom that has lenders large and small scrambling to handle the volume. That stress on the lending market, as well as increased risk to mortgage investors from all those refinances, is actually keeping mortgage rates higher than they could be. I have spoken to mortgage brokers …

Here’s what the Fed’s surprise interest rate cut means for mortgage rates

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The Federal Reserve just cut its benchmark interest rate — but don’t expect lower mortgage rates as a result of the cut because mortgage rates were already falling prior to any action taken by the Fed. And there are some analysts who expect rates to fall even lower possibly as low as 3% for a 30 year fixed mortgage. Read …

US long-term mortgage rates fall; 30-year average at 3.82%

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U.S. long-term mortgage rates fell for the sixth consecutive week, with the key 30-year loan average running below 4% and at its lowest point since September 2017. The declining rates have been a boon to potential purchasers in the spring home buying season, and the number of homeowners seizing the opportunity to refinance mortgages jumped this week. Mortgage buyer Freddie …