Since about 2008, homebuyers and homeowners have enjoyed the lowest mortgage rates in the history of mortgages. Some 15-year fixed programs got as low as the mid-2 percent range for a while. Rates are not that low anymore but they remain at very low levels. For the most part, this was driven by the intervention of the Federal Reserve Bank purchasing over a trillion dollars of mortgage-backed bonds. This injection of cash kept demand high and mortgage rates low when there were few other buyers. But the Fed has been winding down this program, and currently is purchasing about a …
Source: Vail Daily Feed
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