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Mortgage rates just posted the biggest monthly drop since 1981!!!

the MfM

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So what’s the drop? From what to what to what? The linked article is quite wordy with very little specifics in terms of actual current rates, and the fact the fed reserve just increased rates again is interesting
 

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Other news sites reported a 30-year average rate drop to 6.61% from 7.08%.

Jim
 

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Thanks Jim!
 

the MfM

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But the point of the linked article is that the methodology to calculate the rate changed this month.

so the reported drop in the rates may or may not be accurate.
 

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But the point of the linked article is that the methodology to calculate the rate changed this month.

so the reported drop in the rates may or may not be accurate.
Exactly. I couldn’t come up with a tactful way to say that…. Kind of like when “they” changed the way unemployment is calculated in 1994… by eliminating the G7 number
 

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Also, half of what it was in the early 80's! :eek:

Jim
 

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Mortgage rates have not been this high in 20 years. My neighbor had a 16.6 rate in 1980 and I thought that was nuts.

 
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