Mortgage rates fall as Russia invades Ukraine

Mortgage rates plunged after the Russian attack on Ukraine. Mortgage rates on 30-year loans had risen almost a full percentage point this year up until last Friday when it hit 4.18%. On Monday it dropped to 4.04% followed by 3.9% on Tuesday; the largest two-day drop since March of 2020 at the start of the pandemic. The drop in rates gives buyers more spending power. As a result home prices continue to surge.

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Amy Hoag

Amy Hoag

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