By Kathy Orton Kathy Orton Reporter and editor covering the Washington metropolitan area housing market Email Bio Follow March 28 at 10:59 AM Just a handful of months ago, mortgage rates were soaring. Now they are sinking.
The 15-year fixed-rate average sank to 3.57 percent, with an average 0.4 point. It was 3.71 percent a week ago and 3.9 percent a year ago. The five-year adjustable-rate average dropped to 3.75 percent, with an average 0.3 point. It was 3.84 percent a week ago and 3.66 percent a year ago. Global and domestic economic concerns are driving rates lower. The Federal Reserve’s announcement last week that it was taking a cautious approach to increasing its benchmark rate and unwinding its balance sheet rattled investors, which were already concerned about Brexit, the U.S.-China trade war, and slowdowns in the German and Japanese economies.
MeNing housing lending is tanking because the economy is about to drop off a cliff. Republicans ALWAYS crash the economy. Every time they have held power since 1907
What happened a decade ago?! 🤔 oh yeah, the recession...
Good, leave it alone. You dishonest, deceitful, bias media.