Mortgages are still getting cheaper (MORE PROOF THE FED RATE "HIKE" WAS A FRAUD)

``"This is evidence that the Federal Reserve isn't the sole determinant of U.S. mortgage rates," said Mark Hamrick, senior economic analyst at Bankrate.'' -- Coming off the zero-bound should have effect for rates that are already at historic lows; the fact that it doesn't just goes to shoe the Fed's rate rise was a fraud (almost no borrowing takes place nowadays in the fed funds market, where the rate is set -- by contrast, the fed is now paying banks more through reverse repos and interest on deposits, the exact opposite of what a classic rate rise entails...)