Thanks to (mostly) fracking you can not only drive to work for less than before, you may now be writing a smaller check to cover the mortgage. As the Wall Street Journal reports:
Low oil prices may offer a hidden gift to consumers beyond the gas pump: They could also indirectly support lower mortgage rates.
Seems:
The plunge in oil prices has been spurred in part by concerns over a slowdown in global economic growth. Those fears have also boosted demand for government bonds, pushing down yields on longer-term Treasurys. Mortgage rates tend to closely track the 10-year Treasury.
And, according to one expert:
“Further oil price declines could lead the way to sub-3.5% mortgage rates.”
