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Mortgage Rates Stay Low

Mortgage News > Mortgage Rates Stay Low
Date: 07/07/2020    Mortgage Rates Stay Low

As a continued rise in coronavirus cases has halted reopening in many states, U.S. mortgage interest rates fell to new all-time record lows this week. The average rate on a 30-year fixed-rate loan dropped to 3.07% with 0.8 point, down from 3.13% the week before and 3.75% a year earlier. Even as economic data was more positive with the unemployment rate falling to 11.1% from 13.3% and consumer confidence rising, the continued spread of COVID-19 and its financial ramifications led to a roll back in rates.

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