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Fears of Economic Downturn Dampen Mortgage Rates


Mortgage rates fell this week, as a slew of weak economic data stoked fears of an economic slowdown and pushed investors to safer assets.

After two weeks of consistent increases in mid-September, rates spent the last seven days retreating to their lowest level in nearly a month, bowing to many of the same pressures that have consistently placed downward pressure on them for the better part of this year: Lackluster economic reports that highlighted the risks of continued trade tensions between the U.S. and China. Friday's disappointing consumer spending release and Tuesday's report on manufacturing activity (which hit a 10-year low) were the most impactful.

With September's jobs report due Friday, markets remain on edge, which will likely bring more significant rate swings.

The post Fears of Economic Downturn Dampen Mortgage Rates appeared first on Zillow Research.