Mortgage rates are set to open lower in 2016, with stock markets selling off around the world, creating demand for the safe-half of U.S. Treasuries and other fixed income assets. The drop in global stocks overnight was triggered by slowing manufacturing in China, with trading in Chinese markets actually halted after dropping 7% on the first trading day of the year.
So the economic news is good for US mortgage rates - and for US vacationers traveling to Europe, Asia and the Middle East.
Keep your eyes on the macro- economy in the days and weeks to come!
Happy New Year!