Definition: The term "Where are Mortgage Rates Going" refers to a hypothetical scenario in which interest rates on mortgage loans could be expected to change as a result of an economic or political event, such as a recession, inflation, interest rate cuts by central banks, or changes in government policies. For example, if the US Treasury Department announces that it will cut interest rates by 25 basis points this month, the word "Where are Mortgage Rates Going" could be interpreted to mean that mortgage rates for those with fixed-rate mortgages would likely increase by a similar amount. However, if the rate cuts take place as a result of the recession, the term could also refer to the expected shift in interest rates towards longer-term fixed-rate mortgages. In summary, "Where are Mortgage Rates Going" refers to the hypothetical scenario of changes in mortgage interest rates due to economic events or policy actions.
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