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Mortgage Rates Fall to New All-time Low

Mortgage News > Mortgage Rates Fall to New All-time Low
Date: 05/06/2020    Mortgage Rates Fall to New All-time Low

The 30-year conventional fixed-rate mortgage fell to the lowest level on record this past week, according to Freddie Mac, dropping to an average of 3.23% with 0.7 point, down from 3.33% the week before. Rates are much lower than last year at this time when they averaged 4.14%. Ultra-low rates helped home purchase applications rise 7% this week. While refinance loan requests were down 2% for the week, they were still 210% higher than a year ago.

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