COVID-19 Drives Ultra-Low Mortgage Rates

Mortgage rates dropped once again to the lowest level since October 2016, as investors fretted over the threat posed by the outbreak of the COVID-19 coronavirus. The 30-year fixed-rate mortgage is now averaging 3.45% and the 15-year fixed-rate mortgage also dropped four basis points to 2.95%. The longer virus concerns linger and the bigger impact economists and analysts estimate it will have on economic activity the lower we are likely to see rates go.

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