From the New York website: The average interest rate on 30-year fixed-rate mortgages in the U.S. hit 3.36 percent Friday, matching the lowest level ever recorded.
The last time these mortgages came with a 3.36 percent interest rate was in December 2012. Driving the trend is a decline in the yield on 10-year U.S. Treasury bonds, which serve as a key benchmark for mortgages, Bloomberg reported.
The 10-year U.S. Treasury yield currently stands at 1.49 percent, down from 2.27 percent at the beginning of the year, as global investors seek safe investments amid economic uncertainty. Low treasury yields have also helped push up REIT stocks, as The Real Deal reported last week.
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