" Current mortgage rates are approaching a new historic all time low. Today the stock market took a plunge sending investors running to safe havens including bonds. Bond demand went up driving prices up and yields, which move it’s opposite down. The 10 year treasury yield, the leading indicator for current mortgage rates, primarily 30 year fixed mortgages, dropped 0.113 ( down 3.42% overall ) to a 4 1/2 month low closing at 3.195. Mortgage rates, which tend to follow the yield are down as a result."

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