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30 year rate plunges 0.5% in a week

Today’s 30-year mortgage rates plunge half a point to 34-day low

Today’s mortgage rates for home purchases

Based on data compiled by Credible, mortgage rates for home purchases have fallen across all terms since last Friday.

30-year fixed mortgage rates: 5.125%, down from 5.625%, -0.500

https://www.foxbusiness.com/personal-finance/todays-mortgage-rates-july-25-2022.amp

Rates are continuing to drop in sync with 10 year yields in anticipation of a negative 2nd quarter GDP reading, putting pressure on the fed to slow the rate of hikes. Many other inflation components such as oil and food are seeing significant price decrease, and logistical issues are easing globally. For example the cargo ship conga line outside of LA has been reduced from 100+ ships to less than 20.

I've said it before but I'll make a thread for it this time. Futures markets are pricing in a 75 basis pt rate cut in 2023. I'm personally going to heavily invest in housing starting in about 3 months. I welcome anybody who wants to take the opposite side of that bet.

submitted by /u/Fausterion18
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source https://www.reddit.com/r/RealEstate/comments/w8dfa1/30_year_rate_plunges_05_in_a_week/
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