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MORTGAGE RATES HAVE DROPPED AGAIN!
Dated: July 10 2020
July 10, 2020
Mortgage Interest Rates Sink To Record Lows
Last week, the 30-year fixed-rate mortgage averaged 3.07%, replacing Freddie Mac's previous record low of 3.13% that was set in mid-June. Rates for 15-year fixed-rate loans dipped to an average of 2.56%.
However, some economists are predicting further rate drops, which will increase buying power for your first-time homebuyers. "Mortgage rates continue to slowly drift downward, with a distinct possibility that the average 30-year fixed-rate mortgage could dip below 3% later this year," said Sam Khater, Freddie Mac's chief economist this week.
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