AAFMAA Mortgage Services: The Fed Lowered Rates, Why Isn’t My Rate Lower?

SpouseLink |

May 5, 2020
AAFMAA Mortgage Services

On March 15th, just four days after the World Health Organization declared coronavirus (COVID-19) a pandemic, the central bank cut rates by a full percentage point to “near-zero” in an effort to bolster the U.S. economy.

Surprisingly to many consumers, mortgage rates haven’t followed suit. In fact, the week of March 16th, rates actually increased to 3.65%, the highest level since mid-February, according to Freddie Mac. Since that week, mortgage interest rates have been very volatile – often increasing and decreasing multiple times each day.

Read on to discover why there was an uptick and what lies ahead. 

More to Home Finance Tips:

AAFMAA Webinar: Everything You Need to Know About the VA Interest Rate Reduction Refinance Loan

AAFMAA Webinar: “Does My Credit Score Impact My Interest Rate?”

AAFMAA Mortgage Services: How Your Credit Score Impacts Your Interest Rate

Solutions for Your Military Family:

Life Insurance, Wealth Management, Home Mortgages, Survivor Services, and more.

The Benefits of AAFMAA Membership


You must be logged in to Post a Comment.

Subscribe to SpouseLink

Subscribers get a newsletter and can join in the conversation by adding comments. Join now! Already have an account? Sign In

follow Spouselink
follow Spouselink