Most mortgages have 30-year terms. The goal of extending them by 20 years would be to lower monthly payments to a level accessible to more prospective homeowners — and jump-start the sluggish housing market.
New research investigated the impact of noise pollution in neighborhoods near major airports. The conclusion? Even a one-decibel increase in noise levels decreases prices by 0.6% to 1%.
Despite the headlines promising rate relief, this week's decision probably won't move the mortgage-rate needle all that much — at least, not in the way they're expecting.