Thanks, in part, to investors deciding to distance themselves from riskier assets lately, mortgage rates are about to hit the lowest mark in 7-months. As investors continue to move toward safer and more secure options – like mortgage bonds – the rates will continue to react beneficially.
According to Mortgage News Daily, “there's no telling how long the current trend will last. Just yesterday, the momentum was showing signs of wavering, and here we are today with the strongest day of the year. The lesson is that rates remain much more dependent than normal on the fluctuations in stocks and other markets. As long as investors are abandoning other assets and seeking the relative safety of bond markets, the rate rally can continue.”
Source: Mortgage News Daily