Mortgage rates continue to fall for another week amid the pandemic. This week rates fell to 3.31%, putting them only three basis points away from an all-time-low.
The government continues to put money into capital markets to keep rates low and help the recovery of the economy once it begins reopening. I believe rates will continue to float down by a small amount in the coming weeks.
What does this mean for you? If you have been contemplating a refinance of your mortgage now may be a good time to act. A lower monthly payment may be a good option for you during these times of uncertainty. If you had been thinking of purchasing a home and still find yourself in the position to do so, it would be a good time to lock in a low rate for your mortgage. If you have questions, reach out and let’s discuss a plan of action.
For the full article from Housing Wire and my comments, click here.