Rates for home loans fell, with no bottom in sight as investors increasingly brace for slowing economic growth.
The 15-year adjustable-rate mortgage averaged 3.71%, down from 3.76%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.84%, unchanged during the week.Fixed-rate mortgages follow the benchmark U.S. 10-year Treasury note TMUBMUSD10Y, -0.29% , although they move with a bit of a lag. Investors have been piling into bonds over the past week, betting on a more dovish stance from the Federal Reserve.