30-Year Mortgage Rates Decrease to 5.50%

After reaching 6.28% on June 14th, 30-year mortgage rates have decreased to 5.50% today according to Mortgagenewsdaily.com. The 10-year Treasury yield has fallen to 2.82%, apparently on “recession fears”, even though it is pretty clear the economy is not in a recession.

In April, I wrote: How High will Mortgage Rates Rise? In that post, I included a sim…