Definition: The phrase "why mortgage rates are going down" usually refers to a period during which mortgage rates have been falling or declining in value. This may be due to various factors such as changes in government policies, increased competition among lenders, technological advancements in mortgage products and services, interest rate cuts by banks and other financial institutions, economic trends, etc. The term "why mortgage rates are going down" can also refer to a period where the interest rate on fixed-rate mortgages has been falling. This could be due to several reasons such as government incentives, decreased risks associated with home ownership, inflation expectations, or improved demand for mortgages, among others. In summary, "Why Mortgage Rates Are Going Down" typically refers to the phenomenon of mortgage rates decreasing over time, often attributed to changes in financial policy and industry trends.
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