How Much Lower Are Today's "All-Time Low" Mortgage Rates?

2020 has safely secured its place in the record books as the year of all-time lows in mortgage rates–one of them anyway.  Several other years have recently boasted as many new instances of record lows, but none have done so with the average 30yr fixed rate under 3%.  When it comes to the “top tier” rates that are typically used as benchmarks, sub-3% is actually very old news now.  As of this week, even the broad averages (which include loans that are far from “top tier”) have fallen under 3%.  Top tier rates are closer to 2% in some cases.
But how much progress is being made each time the old record is broken? …(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.
Source: mortgagenewsdaily.comNew feed