Freddie Mac’s 30-year mortgage rate index fell to 2.90% as The Fed keeps buying agency mortgage-backed securities.
As The Fed helps to lower mortgage rates, the supply of low-end housing keeps vanishing. Particularly out west for houses less than $250,000.
Throwing gas on a housing fire isn’t a great idea with limited inventory of houses, particularly for starter homes. The Fed is not operating for the benefit of lower-income home buyers.
The Fed isn’t fixing a hole, its creating a bigger hole in home affordability.
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