“The Freddie Mac mortgage rate survey had difficulty keeping up with market events this week,” Freddie chief economist Sean Becketti said, as weak inflation and “nonstop financial market turbulence” drove investors to financial safe havens.
Freddie’s survey was all but done late by late yesterday, before spooked investors made a mad dash to buy U.S. Treasurys, a rally that pushed the yield on 10-year notes below 2 percent.
Translation: Global unease made it cheaper for the U.S. government to borrow yesterday. When that happens, it usually gets cheaper for homeowners to borrow, too.
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