Mortgage rates are not directly controlled by Federal Reserve interest rate decisions; instead, they are primarily driven by mortgage-backed securities, which follow the 10-year Treasury bond rate.
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The Real Driver Of Mortgage Rates (Not The Fed!) ποΈπ Fed Rates vs Mortgage Rates - Truth Revealed!Added:
Something we want to I want to talk about now that we're talking about the Fed chairman, too, is that the misconception that when they have a rate increase, that affects mortgage rates.
Can you Can you tell them >> That's a big misconception.
>> Right.
>> Right.
>> So, anytime [snorts] the Fed decides to cut rates or increase rates, they it it does not they're not increasing or decreasing mortgage rates.
The The only driver for mortgage rates is the mortgage-backed securities, which follows the 10-year Treasury bond.
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