US Mortgage Rates Hit 3-Year Low

It’s now even cheaper to get a mortgage.
Mortgage rates are hitting a three-year low.
The average on a 30-year fixed dropped to 3.48-percent.
Just a year ago that number was above 4 percent.
The 15-year fixed rate also dropped to 2.78 percent.
What’s behind the low?
Investors have been rushing to the safety of US Treasury bonds in the wake of the UK’s decision to leave the european union.
The rush causes yield on the bonds to fall and mortgage rates are tied to those yields.

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