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Mortgage Rates Drop to 8th All-Time Low of 2020

Saturday, Aug 08 2020
Lending
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Long-term mortgage rates have fallen again, with the benchmark 30-year fixed-rate mortgage touching an all-time low for an eighth time this year. So reports MarketWatch.

According to Freddie Mac, the 30-year fixed-rate mortgage averaged 2.88% for the week ending August 6, down from 2.99% a week earlier. That’s the lowest level since Freddie Mac began keeping track in 1971.

Freddie Mac’s chief economist, Sam Khater, said that a “lack of inventory, especially for entry-level homes” remains an obstacle for home buyers.

Read the full article from MarketWatch.

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