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Mortgage Rates Tumble as One Economist Waves the White Flag

Andrea Riquier, MarketWatch

Rates for home loans slumped, another reminder of the “lower for longer” conditions that have dogged financial markets since the 2008 financial crisis. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.68%, down nine basis points. Fixed-rate mortgages follow the trajectory of the benchmark 10-year U.S. Treasury note.