FYI: Falling bond yields have pushed mortgage rates to their lowest level in nearly three years, spurring a rush by homeowners to refinance.
The rate on a 30-year, fixed-rate mortgage fell to 3.6%, mortgage-finance giant Freddie Mac said Thursday. That rate was nearly 5% in November. Mortgage rates are closely linked to yields on 10-year Treasury notes, which on Wednesday fell to 1.675%, the lowest since October 2016.
Regards,
Ted
https://www.wsj.com/articles/homeowners-rush-to-refinance-thanks-to-falling-yields-11565277073
