Why mortgage rates aren’t really LOWER

You probably notice the big announcement by Freddie Mac last week that interest rates saw their largest decline since December 2008. Maybe you even reached out to your trusted Lender for confirmation only to discover that rates hadn’t fallen all… Why does this happen?

The answer is that the method used by Freddie Mac to assess the rise and fall of interest rates is flawed. Each week Freddie Mac conducts a survey of rates based on data released on Monday and Tuesday. They compare that data to the previous Monday and Tuesday and post the results on Friday.  Any change to rates between Wednesday and Friday, is never included in the survey. If the data changes later in the week by the time Fannie publishes the results, the information is wrong!  Last week for example, rates DID fall on Monday and Tuesday, but popped right back up between Wednesday and Friday. On Friday Freddie Mac published a BIG announcement that rates had their biggest fall since 2008! Totally inaccurate !