The only remedy to build more homes? Lower mortgage rates

The only remedy to build more homes? Lower mortgage rates

Today’s housing starts report clearly shows that to build more homes, we will need lower mortgage rates. Without lower rates, housing permits — which are already at COVID-19 recession levels — are at risk of dropping even lower. A few months ago, San Francisco Fed President Mary Daly said that builders have come off the sidelines to build more homes after the Fed cut rates last year. However, no housing data supports that statement because mortg…

Mid-May mortgage rate movements

Over the last week, major lenders have continued the trend of slashing mortgage rates; here's a round-up of all the biggest movements.