Low Mortgage Rates During Economic Crisis

Mortgage interest rates continue to be near the all-time low levels we have been experiencing since June of this year. In the first week of August, rates bottomed out, ending the run on 8/12/2020, marking a reprieve from the torrid pace set by the Federal Reserves’ continued commitment to suppressing interest rates, in order to stimulate consumer spending during what is arguably the worst economic crisis since the Great Depression.

Refinance Loan Points Increase

The current rise in mortgage rates has primarily affected refinances. This rise was directly caused by the Federal Housing Finance Agency (FHFA) — led by Mark Calabria. Calabria and the FHFA control the large institutional mortgage investors, Fannie Mae and Freddie Mac, with