Rates on 30-year mortgages fell to 4.57% this week amid falling new home sales and increasing joblessness. It’s the third straight week that mortgage rates have dropped, and they’re the lowest since Freddie Mac started keeping track in the 70’s.

Normally homeowners try to refi when rates drop, but most who would have already done so, notes the NYT.

Stagcession?

U.S. 30-Year Mortgage Rates Decline to 4.57%, Third Straight Weekly Drop [Bloomberg]
Mortgage Rates at Lowest Level Since 1950s [NYT]

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