Oil’s plunge is pushing mortgage rates down


By Nicoilk Timiraos | Wall Street Journal

Low oil prices may offer a hidden gift to consumers beyond the gas pump: They could also indirectly support lower mortgage rates.

Already, the average 30-year fixed-rate mortgage fell to 4.06% last week, the lowest level in 18 months, according to the Mortgage Bankers Association.

The plunge in oil prices has been spurred in part by concerns over a slowdown in global economic growth. Those fears have also boosted demand for government bonds, pushing down yields on longer-term Treasurys. Mortgage rates tend to closely track the 10-year Treasury.


Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.