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Mortgage Rates Fallen To Their Lowest Level Since June 2013
Anyone who is paying attention to the United States financial market has surely noticed that a new low in mortgage rates has just recently been reached. It has been a full 16 months since rates this low have been reached on the average 30-year fixed-rate mortgage market.
This is largely the result of concerns about the global economy sending large-scale investors into safety mode. As they withdraw from riskier endeavors and seek shelter under the safety of United States Treasury Bonds, rates fall, and American borrowers enjoy an easier time obtaining favorable mortgage rates.
The upshot of this news, naturally, is that American borrowers have a chance to spur growth by purchasing mortgage agreements and refinancing their homes and businesses. Anyone interested in borrowing has the perfect chance to enjoy a profitable loan that can earn them savings over the coming years.
Why Have Mortgage Rates Fallen?
Mortgage rates tend to move in relation to Treasury yields. These yields, as a result of the unease that investors are feeling about the state of the global market, have declined in the past two weeks. The 10-year Treasury rate, at 2.2 percent, is also at its lowest since June 2013, reflecting the fact that ... more
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