Mortgage Financing - The COVID Pandemic

During 2020 and 2021, the Fed took what some people might call as emergency actions. They pushed interest rates down below 3%. And they kept them there for a very long time. But with inflation surging over the last couple of years, reaching a four decade high, it was actually a 41 year record. Mortgage rates started to rise pretty quickly in 2022. Today's 30 year mortgage rate still is below the average from a historical perspective.