Weekly Mortgage Applications Jump as Rates Plunge

·3 min read

Last week, the yield on the 10-year Treasury bond plunged, and that sent mortgage rates, which tend to follow that yield, plummeting. The 30-year mortgage rate hit its lowest level since February of this year, and the 15-year mortgage rate hit a record low last seen in 1990. Not shockingly, there was an uptick in mortgage activity in light of these falling rates.

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