Mortgages moving lower

thanks for the great news!

not a big drop but moving in a favorable direction

Moving in a favorable direction cause the economy is once again tanking and people flocking to Treasuries...

Good news all around

The United States needs higher interest rates, not lower interest rates.

In due course inflation will drive rates higher. In the meantime, those who are considering a purchase need not panic based on the recent and dramatic move higher.

Most times bad news for the economy mean great news for mortgage rates.
However as "weepingtissues" said, the country needs high rates and not lower.

The market is suffering from lack of affordability, so the problem is not rates.
There have quite a few historical "cycles" where people borrowed like crazy at rates like 8%-9%......