What Happens to Mortgage Rates When The Fed Starts Easing?

Below, I summarize what happens to mortgage rates following the start of a Fed easing cycle. An easing cycle is when the Federal Reserve begins a pattern of lowering it’s target Federal Funds Rate. The source for mortgage rates is Freddie Mac’s Monthly Primary Mortgage Market Survey for 30-Year Fixed-Rate Mortgages. I am ignoring mortgage points, [...]