Here's what it could mean ... [+] for the mortgage market. He also says the cut could cause mortgage rates to drop in the coming days. Just two weeks ago, mortgage rates hit their lowest point in 50 years, according to Freddie Mac, bottoming out at 3.29%. “The Fed’s MBS buying spree increased demand for mortgage-backed securities at a time when investor demand was faltering, which, in turn, helped push mortgage rates down. Today, we are already in a historically low mortgage rate environment, but the Fed’s move may pave a way for mortgage rates to once again flirt with 3%.”Mortgage rates ticked up slightly last week, jumping to 3.36%, according to Freddie Mac.

Source: Forbes March 16, 2020 12:24 UTC