Comment on Mortgage Rates Wednesday, March 22: Sharp Drop; Mortgage Applications Slide

Thirty- and 15-year fixed loans fell sharply today, by 8 and 12 basis points, respectively, while 5/1 ARMs also dipped by 8 basis points, according to a NerdWallet survey of mortgage rates published by national lenders on Wednesday morning. The drop in mortgage rates is a reaction to the falling 10-year U.S. Treasury yield, which has declined following the...