Click through the timeline below to see the effect the Fed's moves had on mortgage rates.
End of QE2: June 30, 2011
What the Fed did
- As previously announced, the Fed concluded its $600 billion bond purchasing program.
- QE2 was conducted at an even pace, and the end date was telegraphed from the start of the program.
What was expected
When the program was about to end, some mortgage experts feared rates would rise.
Mortgage rates have tumbled since QE2 ended and have recently reached record lows.
How mortgage rates reacted to the end of the QE2
Note: Mortgage figures are from Bankrate's weekly national survey of large lenders.