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Mortgage Rates Continue to Break Records

Mortgage News > Mortgage Rates Continue to Break Records
Date: 07/15/2020    Mortgage Rates Continue to Break Records

Long-term mortgage interest rates fell to their lowest point on record in the latest week, according to Freddie Mac, encouraging a flurry of refinance applications. The average rate on a 30-year fixed-rate mortgage dropped to 3.19% with 0.33 point, during the week ended July 9, down from 3.26% the week before. That decline resulted in a 12% weekly jump in refinance requests, according to the Mortgage Bankers Association, and a 107% increase over the previous year.

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