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Chicago Mortgages

Investors' flight to Treasuries seen to have a short-term benefit to consumers

Investors watched stock markets swoon and economists fretted about the nation's fragile recovery on the first day of trading after the unprecedented downgrade of the nation's credit rating. But amid the gloom Monday were a few bright spots for consumers: Borrowers may be able to get better rates on mortgages and other loans, and even pay less at the pump. In an ironic twist, jittery investors who bailed out of stocks poured money into U.S. Treasuries — still considered a haven in an uncertain world despite doubts raised by Standard & Poor's in its credit downgrade late Friday. The buying spree pushed down Treasury yields that influence other consumer rates....