The Silicon Valley Bank and Signature Bank failures that occurred over the last week have caused even more uncertainty within the mortgage industry. Still, homebuyers took advantage of declining rates provoked by the turbulence and applied for home loans. Meanwhile, mortgage lenders are still trying to calm down their investors and business partners. 

The recent crisis impacted homebuyers in different ways. A potential pause on the Federal Reserve’s federal funds rate hikes may bring borrowers on the sidelines back to the market, as mortgage rates could fall even further. However, the turbulence can details ⇒

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