Do Failing Banks = Lower Mortgage Rates?

When failing banks make headlines, are mortgage rates likely to move lower? On the news of Silicon Valley Bank and Signature Bank collapsing, the market seemed poise to respond with lower rates for mortgage consumers. However, with the Federal Reserve continuing to battle inflation, the 'flight to quality' we expected to see didn't manifest quite the way we hoped. In this video, I walk through how rates have changed since these bank failures and provide some predictions regarding what you can expect to see going forward.

All average 30-year fixed rate data in this video is from mortgagenewsdaily.com. Rates are included for informational purposes only and are not intended as quotes.

Mark Anderson, NMLS# 374393. Vice President, Home Loan Advisor at First Bank, NMLS# 551928. www.first.bank - Member FDIC, Equal Housing Lender
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This video is offered as a service and the information presented will be of a general nature. The views expressed in this video do not necessarily reflect the opinions of First Bank. First Bank does not provide any warranties whatsoever with respect to any materials or information provided in this video.