Will Mortgage Rates Keep Dropping?

One silver lining from trade tensions with China and fears about a slowing global economy – the same factors whipsawing the stock market – is that mortgage rates are heading lower. That is helping homeowners and buyers alike. People who bought in the last two to three years may pocket major savings by refinancing their mortgage, while those hunting for a new home may get a bit more spending power, thanks to lower rates. The average rate on the 30-year fixed mortgage – the most popular for home purchases – fell to 4.01%

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