00:00Mortgage rates dropped steeply Tuesday, with the average rate for a 30-year fixed mortgage
00:04hitting a little above 6 percent, the lowest in over two years as investors anticipated
00:09a rate cut from the Federal Reserve.
00:12The move mirrors similar behavior in past periods before Fed's monetary actions, when
00:16bond and mortgage-backed security markets price in upcoming policy changes.
00:21Still some analysts warn that even after the anticipated rate cut, long-term rates could
00:26creep back up depending on bond yields and economic signals.
Comments