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Mortgage Rates Hit New All-Time Low

Mortgage News > Mortgage Rates Hit New All-Time Low
Date: 06/02/2020    Mortgage Rates Hit New All-Time Low

The average rate on a 30-year fixed-rate mortgage fell to a new record low last week, according to Freddie Mac, falling to 3.15% with an average 0.8 point from 3.24% the week before. Last year, the rate was much higher at 3.99%. Continued investor concern about the COVID-19 shutdowns helped push rates lower. Recent worried comments from Federal Reserve Chairman Jerome Powell as well as the economic impact of recent riots around the country could lead to a new all-time low again soon. 

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