Why Mortgage Rates are Falling Even As the Fed is Raising Interest Rates
When the Federal Reserve gathers on Wednesday, policymakers are all but certain to lift interest rates again in an attempt to keep inflation at bay by raising borrowing costs. This will likely mark the third quarter-point rate hike announced by Fed chair Janet Yellen since last December. But if that's the case, why have mortgage rates sunk to near a seven-month low, from 4.32% at the end of December to just 3.89% in June?
More Americans Think Selling Is a Good Idea