The housing market is still facing impacts from the Brexit vote with mortgage rates following long-term bond yields close to record lows in the current week.
One of the best gauges that indicate if the mortgage rates will rise or drop is the movement of the ten year Treasury bond. Generally when yields drop rates of home loan too slip.
Last week, the yields on long-term bonds took a deep plunge touching all times low and that indicated grave concerns which investors felt regarding the global economy.