Mortgage

Are mortgage rates about to hit an all-time low?

Several lenders say it’s already happening

The lowest mortgage rates ever occurred around Thanksgiving 2012, when the interest rate for a 30-year fixed-rate mortgage fell to 3.31% (according to Freddie Mac data). However, rising panic over the coronavirus could drive rates to lows never seen before.

The signs of record lows for mortgage rates are already emerging, with the yield on the benchmark 10-year U.S. Treasury note falling to its lowest level ever during Tuesday’s trading.

In fact, several lenders told HousingWire Tuesday that they have never seen borrowers get mortgage rates as low as they are getting right now.

So, what’s behind the potential record lows for interest rates? Blame the coronavirus.

The rest of this content is for HW+ members. Join today with a HW+ Membership! Already a member? log in

Most Popular Articles

Spouse of Quicken Loans executive sues AIME’s Anthony Casa for defamation

Theresa Niemiec, wife of Quicken Loans Executive Vice President Austin Niemiec, has filed a defamation lawsuit against Anthony Casa, CEO of the Association of Independent Mortgage Experts, for comments he made about her in a video message that he filmed and sent to her husband and others in the mortgage industry.

Jul 12, 2020 By

Latest Articles

Quicken and NAR ask HUD to withdraw proposed amendments to Fair Housing Act

In recent days, both Quicken Loans, the nation’s largest lender, and The National Association of Realtors, the nations’ largest trade organization, have called on the Department of Housing and Urban Development to withdraw its proposed rule to amend the HUD interpretation of the Fair Housing Act’s disparate impact standard.

Jul 14, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please