Mortgage rates fell to a 16-month low last week, which, according to real estate blogger Nick Timiraos, is part of a “familiar turn of events in which concerns about the global economy have sent investors seeking the safety of U.S. bonds.”
The Mortgage Bankers Association reported Wednesday that the rate on the average 30-year fixed-rate loan fell to 4.2 percent last week, from 4.3 percent the week before. In the beginning of the year, rates were as high as 4.72 percent.
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