Diana Olick | @DianaOlick
Friday, 12 Feb 2016 | 10:38 AM ET
ORIGINAL ARTICLE CAN BE FOUND HERE.

 

Who knew? The Federal Reserve raised its funds rate barely two months ago, and all that worry about higher interest rates for mortgage borrowers ended up being positively unwarranted. The average rate on the popular 30-year fixed mortgage began a free fall, reacting to financial markets overseas rather than monetary policy here at home.

"Mortgage rates are going down again, and it's good for borrowers, but is it really good for the housing market and the broader economy? The answer is no," said Guy Cecala, CEO and publisher of Inside Mortgage Finance.

Published in Latest News

ORIGINAL ARTICLE CAN BE FOUND HERE.

Mortgage rates fell last week, but so did record amounts of snow across much of the East Coast. That may be why total mortgage application volume dropped 2.6 percent on a seasonally adjusted basis for the week from the previous week, according to the Mortgage Bankers Association.

Published in Latest News