By low interest rates, do you mean Federal Funds, or the bond market? My impression is that mortgage rates tend to track the 10 year bond rate, given most peop

By low interest rates, do you mean Federal Funds, or the bond market? My impression is that mortgage rates tend to track the 10 year bond rate, given most people refi/sell before then. These and long term rates have been on a multi-decade decline. I'm not sure how much influence recent policy has had.