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Rates Hit Record Low - 10th Time This Year

Mortgage News > Rates Hit Record Low - 10th Time This Year
Date: 10/15/2020    Rates Hit Record Low - 10th Time This Year

Long-term mortgage interest rates fell to their lowest level on record, the 10th time that has occurred in 2020. The average rate on a 30-year fixed rate mortgage fell to 2.81% with 0.6 point, down from 2.87% last week and 3.69% a year ago. “Low mortgage rates have become a regular occurrence in the current environment,” said Sam Khater, Freddie Mac’s Chief Economist. Rates have been on a steady downward slide since the coronavirus pandemic led to shutdowns in March.

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