{"id":17459,"date":"2020-06-12T11:22:13","date_gmt":"2020-06-12T11:22:13","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=17459"},"modified":"2020-06-12T11:22:13","modified_gmt":"2020-06-12T11:22:13","slug":"record-low-mortgage-rates","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/record-low-mortgage-rates\/","title":{"rendered":"Record Low Mortgage Rates"},"content":{"rendered":"

Record Low Mortgage Rates<\/h1>\n
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The Federal Reserve announced Wednesday that it would keep its benchmark interest rate near zero through 2022\u2014a move that could set the course for record low mortgage rates for the next three years. The Fed\u2019s key rate doesn\u2019t directly affect mortgage rates, but it often influences them. The federal funds rate is what banks charge one another for short-term borrowing.<\/p>\n

The Fed\u2019s decision was a response to the economic impact of the COVID-19 pandemic. The Fed also announced it will continue to increase its bond holdings to help preserve the flow of credit. \u201cThe Federal Reserve\u2019s view that a rate hike will not occur for three years is a signal to the market to expect an all-in accommodative monetary policy,\u201d says Lawrence Yun, chief economist for the National Association of REALTORS\u00ae. \u201cIt is also very likely that the Fed will be aggressively purchasing mortgage-backed securities behind the scenes.\u201d<\/p>\n

Yun says that could help push mortgage rates even lower\u2014at or near 3%\u2014for an extended period of time. \u201cIf inflation, for an unexpected reason, should pop up, then mortgage rates will rise independent of the Fed, as loans need to compensate for the loss of purchasing power of the dollar\u2014which happened during the 1970s,\u201d Yun says. But as of now, rates are expected to remain low, and that could be a boon for home buyers.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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\u201cFed Holds Rates Near Zero\u2014Here\u2019s Exactly What That Means for Your Wallet<\/a>,\u201d CNBC (June 10, 2020)<\/div>\n
\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Record Low Mortgage Rates The Federal Reserve announced Wednesday that it would keep its benchmark interest rate near zero through 2022\u2014a move that could set the course for record low mortgage rates for the next three years. The Fed\u2019s key rate doesn\u2019t directly affect mortgage rates, but it often influences them. The federal funds rate … <\/p>\n

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