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Mortgage Rates Dive to Three-Month Lows on Iran Tensions

Monday, Jan 13 2020
Lending
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Last week, mortgage rates fell to their lowest levels since October as investors worried about a military back-and-forth between the United States and Iran. So reports MarketWatch.

According to Freddie Mac, the average for a 30-year fixed-rate mortgage was 3.64% for the week ended January 9, down from 3.72% the previous week—and 4.45% a year ago.

Sam Khater, Freddie Mac’s chief economist, said in a statement, “The drop in mortgage rates, combined with the strong labor market, should propel a continued rise in homebuyer demand.”

Read the full report from MarketWatch.

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