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Mortgage Rates Slip Closer to Record Bottom

Tuesday, Apr 21 2020
Lending
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A third straight week of declines has brought mortgage rates inching closer to their all-time low. So reports MarketWatch.

According to Freddie Mac, the 30-year fixed-rate mortgage averaged 3.31% during the week ending April 16, down from 3.33% the week before. The 30-year home loan’s average touched a record low of 3.29% in early March.

Concerns about investors’ capacity to repay loans have constrained demand for mortgage-backed securities, ultimately reducing lenders’ abilities to cut rates more.

Read the full article from MarketWatch.

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