Mortgage Rates Tumble as One Economist Waves the White Flag

Rates for home loans slumped, another reminder of the “lower for longer” conditions that have dogged financial markets since the 2008 financial crisis.

The 30-year fixed-rate mortgage averaged 4.14% in the May 2 week, Freddie Mac said Thursday. That was down 6 basis points during the week. It snapped a four-week streak of increases for the popular product, the first time it had sustained such a long stretch of gains since last September……….Read More