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House the Market?​

Rising Rates Get Cancelled

3/29/2020

 
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Remember when interest rates hit a recent low of about 3.29% a few weeks ago? Well, lots has happened since then. With that drop came a rush of homeowners wanted to refinance their existing homes. Lenders got so overwhelmed that they controlled the sudden influx of refinances by shooting rates back up, and it's been a rollercoaster ride for rates ever since. 

The Fed then announced that it would buy back $500 billion in U.S. Treasury bonds and $200 billion in government mortgage-backed securities. I know
--what does that even mean?? In layman's terms, this move should help stabilize rates and keep them low. They're already back to 3.5% as of this week!

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MICHAELA TO
510.266.2802
mto@MichaelaTo.com
6211 La Salle Ave. Oakland, CA 94611
DRE# 01883913
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  • Home
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