Inflation has been falling since July 2018 and the Fed went against it’s mandate and raised rates to promote deflationary pressures.

Inflation has been falling since July 2018 and the Fed went against it’s mandate and raised rates to promote deflationary pressures.
Freddie Mac today released the results of its Primary Mortgage Market Survey®, showing that fixed-rate mortgages fell to the lowest levels since early 2018.
Sam Khater, Freddie Mac’s chief economist, says, “The combination of cooling inflation and slower global economic growth led mortgage rates to drift down to the lowest levels in a year. While housing activity has clearly softened over the last nine months and the lingering effects of higher rates from last year are still being felt, lower mortgage rates and a strong job market should rekindle demand for the spring homebuying season.”
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Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.