: Silicon Valley Bank and Signature Bank collapse may lower mortgage rates, boosting the housing market
The collapse of Silicon Valley Bank will likely help push mortgage rates down further, experts say.
The housing market has been stuck in a rut because of high mortgage rates. The possibility of a slowdown in the U.S. Federal Reserve’s pace has offered relief, as rates edge downwards.
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The collapse of Silicon Valley Bank will likely help push mortgage rates down further, experts say.
The collapse of SVB SIVB, as well as Signature Bank SBNY is spooking investors. But with the federal government stepping in, the main outcome for the housing market may be lower mortgage rates, which will benefit U.S. home buyers, Taylor Marr, deputy chief economist at Redfin, told MarketWatch.
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David Carroll
David Carroll is a Journalist at Flaunt Weekly.