Mortgage Rates Hit their Lowest in Years

You may have seen the headlines this week.

After Donald Trump announced the government would move forward with buying up to $200 billion in mortgage-backed securities through Fannie Mae and Freddie Mac, mortgage rates dropped to their lowest levels in years.

That move increased demand for mortgage bonds, which helped push borrowing costs down. Buyers are already reacting.

Here’s the important part.
This type of rate relief is often temporary. If lower rates bring more buyers off the sidelines, competition can rise quickly, and pricing pressure follows.

For buyers who are already planning to move, this could be a window to lock a better rate before the market adjusts again.

If you want help comparing today’s rates or figuring out what this means for your buying power, I am happy to walk through it with you.