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Lower mortgage rates a silver lining of stock market drops
Lower mortgage rates a silver lining of stock market drops

If there's an upside to a plunging stock market, it's that mortgage rates are falling too. Investors bailing out on stocks have piled into ultra-safe U.S. Treasury bonds, pushing down the government's long-term borrowing costs on Wednesday to the lowest level since June 2013 — about 2.1% annual interest on the 10-year Treasury note. That yield was more than 2.5% at the end of September. That means fixed mortgage rates, which tend to track the long-term Treasury yield, also are trending down. And that could perk up the lethargic real-estate industry. First-time homebuyers and those with less than perfect credit histories still struggle to qualify for loans, a...

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