Lower mortgage rates a silver lining of stock market drops

Here's the story from the LA Times.

If there's an upside to a plunging stock market, it's that mortgage rates are falling too.
Investors bailing out on stocks have piled into ultra-safe U.S. Treasury bonds, pushing down the government's long-term borrowing costs on Wednesday to the lowest level since June 2013 — about 2.1% annual interest on the 10-year Treasury note. That yield was more than 2.5% at the end of September.
That means fixed mortgage rates, which tend to track the long-term Treasury yield, also are trending down. And that could perk up the lethargic real-estate industry.

With stocks down there is a flight to safety, being bonds, with that, mortgage rates, which are tied to bonds, are dropping. More coverage of the issue here and here.