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After tumbling for six straight weeks, mortgage rates are taking a little bit of a time out. But look where they’ve settled: at a low level we hadn’t seen in almost two years. Borrowers are finally.
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Thirty-year mortgage rates have fallen this week to their lowest levels since late 2016, handing cheaper borrowing costs to homeowners and greater risks to the money managers that invest in home loans.
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Weekly mortgage applications fall 2.4% as consumers shrug off low rates – Mortgage application volume fell 2.4% for the week last week, according to the Mortgage Bankers Association’s seasonally.