Mortgage Rates Drop to 2-Year Low
Fort Wayne News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Mortgage rates have plummeted to their lowest levels in two years, with the average 30-year fixed-rate loan hitting 5.87%. This drop is linked to falling yields on ten-year Treasury notes due to investors flight to safety amid trade war fears. While homeowners can refinance and save, first-time buyers may still face challenges due to tight home supplies and bidding wars. The shift from 6% to 5% feels significant, and rates may remain below 6.25% as lenders set rates based on the secondary mortgage market, where Fannie Mae and Freddie Mac buy up loans and bundle them into securities.
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