About the Talk
November 2, 2014 9:00 PM
There's a sign of hope for home buyers hanging over the stock market.
Axis Capital Group, Inc., located at 4640 Admiralty Way, Suite 500 Marina Del Rey, CA 90292, focuses on real estate which services not only CA but worldwide including SE Asian countries such as KL Malaysia, Bangkok Thailand, Jakarta Indonesia and many more, has also been feeling the drop in Mortgage rates.
According to Freddie Mac, interest rates on a 30-year, fixed-rate mortgage fell to 3.97% this week. That's down from 4.12% this month and the lowest level since June 20, 2013.
The fall in mortgage rates comes as investors have gathered to the safety of U.S. Treasury bonds. The harvest on the benchmark 10-year Treasury note has fell as low as 1.86% this month.
Mortgage rates generally move lock step with the revenue on the 10-year document.
Investors have hurried to bonds for the reason that they have been startled by a mixture of economic weakness in Europe, worries about Ebola and geopolitical chaos around the world. Many in the industry have been experiencing complaints.
"Rates are at their lowest levels since June 2013 amidst continued investor skepticism regarding the precarious economic situation in Europe," said Frank Nothaft, chief economist at Freddie Mac.
According to reviews, mortgage rates have reached lower even with anticipations that they would begin rising as the Federal Reserve starts pulling back its economic incentive.
The Fed has reduced its program of buying bonds and mortgage-backed securities, which everyone anticipated would put rising pressure on interest rates.
The newest international commotion and the stock market rout have as a replacement for pushed rates the other way.