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Mortgage Rates Camp Out Near Record Lows, Could Go Lower

Mortgage rates have kept drifting close to their all-time lows, and depending on how the economy recovers from the COVID-19 crisis, they could fall further yet. So reports MarketWatch.

According to Fannie Mae, the 30-year fixed-rate mortgage averaged 3.28% during the week ending May 14, edging upward from 3.26% the previous week after hitting a record low of 3.23% in late April.

Danielle Hale, chief economist at Realtor.com, told MarketWatch that “while rates may rise from week to week, we expect the overall trend to be downward, with rates sliding below 3 percent by the end of 2020.”

Read the full article from MarketWatch

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