Last week the 30-year-fixed-rate mortgage fell below 4%, displaying a 16 month low for the product. Furthermore, the 15-year-fixed-rate mortgage also registered a fall as it averaged 3.46% from the previous 3.51%.
Interest rates have been following the general market cues similar to the bond market. Important factors influencing the slowdown are general slowing trends globally and speculations regarding the US-China trade war. With dilapidated global growth predictions for the future, investors are finding fixed income assets like bonds