What Does Mortgage Rates Decreasing Mean For Financial Service Companies?

LendingTree TREE shares are trading over 2% higher Friday afternoon.

The price of mortgage rates hit an extreme low. The current rate in Michigan for a 15-year loan is 3.09%.

The 10-year treasury yield fell to 1.50% as global recession fears grow.

LendingTree shares are trading at $311.76 at time of publication. The company has a 52-week low of $183.25 and a 52-week high of 434.94.

Benzinga's Take

Amid mortgage rates being so low and the 10-year treasury yield falling to an all-time low, LendingTree will likely see a lot of traffic from people looking to refinance.