Reported about 9 hours ago
Mortgage rates are experiencing a notable decline, driven by lower long-term bond yields influenced by expectations of Federal Reserve interest rate cuts and rising recession risks. Recent data shows 30-year fixed rates at their lowest since 2024, aided by shifts in investor preferences in the mortgage-backed securities market, where the demand for loans at lower rates is growing. Additionally, the relationship between Treasury yields and mortgage rates contributes to this decline, with market dynamics potentially reinforcing the downward trend in rates as bank purchasing patterns shift.
Source: YAHOO