Inflation soars as 30-year mortgage rates plunge below 3%
Inflation soars as 30-year mortgage rates plunge below 3%
Contradiction? Kerfuffle? Chaos?
Freddie Mac’s 30-year fixed plunged 11 basis points to 2.98% this week, even as the nation’s inflation rate jumped to 6.2%.
When was the last time this happened? Exactly never.
Traditionally, mortgage rates move up with inflation, says Richard Green, director of USC’s Lusk Center for Real Estate.
“This has happened at no other time in history,” Green said. “We are…