Mortgage rates fall to lowest level in more than three years

Penn IUR Co-Director Susan Wachter discusses the recent drop in mortgage rates to their lowest levels since September 2022. Weighing in on President Trump's call to purchase $200 billion in mortgage bonds, Wachter explains how these market interventions may already be putting modest downward pressure on home borrowing costs.

 

Those purchases may already be putting modest downward pressure on mortgage rates, at least in the short term, said Susan Wachter, professor of real estate at the Wharton School of the University of Pennsylvania. “It has started; we can already see it in the data,” she said of the purchases, though she added she hasn’t seen purchases amounting to $200 billion yet.