US Mortgage Rates Plunge for a Second Week, Hit Two-Month Low, Purchase And Refi Applications Rise (But Purchase Apps Down 86% YoY, Refi Apps Down 41%

The global economic slowdown has one nice unintended consequence: as the 10-year Treasury yield softens, mortgage rates decline. US mortgage rates retreated sharply for a second week, hitting a two… One indicator of a slowing global economy is the decline of FANG (Facebook, Amazon, Netflix, Google) with declining liquidity.