Morning Minute: Mortgage rates dip below 4 percent

Freddie Mac reports this morning that fixed mortgage rates fell back under 4 percent in the first week of 2016. The 30-year, fixed-rate mortgage averaged 3.97 percent this week, down from 4.01 percent the week before. The 15-year, fixed-rate mortgage rate averaged 3.26 percent, up slightly from 3.24 percent the week before. Freddie Mac Chief Economist Sean Becketti said the 30-year rate decline is a response to, “concerns about overseas economic developments have dominated financial markets to start the year. U.S. Treasury bond yields fell amidst a global equity selloff and flight to safety.” Read more.

In other headlines:

How ‘Star Wars’ Applies to Your Business – NAR Daily Real Estate News

What’s ahead for the housing market in 2016 – Washington Post

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