Mortgage rates are falling like presidential election hopes after a debate disaster. Indeed, fixed rates have dipped in nine of the 10 terms we monitor, with most shedding at least 10 basis points.

Why the lender generosity? Simply put, their costs to fund mortgages have nosedived to multi-month lows. Lender profit margins are now pleasantly plump — enough so to share the savings with Joe and Jane Borrower.