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Mortgage Rates Drop to Three-Year Low Amid Coronavirus Scare

Sunday, Mar 01 2020
Lending
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The average rate on the 30-year fixed-rate mortgage fell four basis points to 3.45% for the week that ended February 27, according to Freddie Mac data, returning to the lowest level since October 2016. So reports MarketWatch.

Danielle Hale, chief economist at Realtor.com, said that the depth to which rates may fall depends on how long fears about the covid-19 coronavirus outbreak last and how much the virus affects the global economy.

The average on the 30-year fixed-rate hit an all-time bottom of 3.31% in November 2012.

Read the full article from MarketWatch.

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