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Forecast: Mortgage Rates Will Hit New Lows in 2020

Mortgage News > Forecast: Mortgage Rates Will Hit New Lows in 2020
Date: 12/24/2019    Forecast: Mortgage Rates Will Hit New Lows in 2020

Even though 2019 saw some of the lowest mortgage interest rates, 2020 is likely to set new record lows, according to the latest forecast from Fannie Mae. The average mortgage rate for all of 2019 was 3.9%, a significant decline from the 4.5% of 2018. The lowest average rate on record was 3.65% in 2016. Fannie Mae is predicting that a convergence of market factors will lead to an average 2020 mortgage rate of just 3.6%.

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