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2.91%: Mortgage Rates Fall to Just Above Record Low

  • August 27th 2020

by UrbanTurf Staff

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Mortgage rates dropped this week and are now just above their record low of 2.88%. 

On Thursday, long-term mortgage rates fell to 2.91%, eight basis points lower than last week. Long-term rates have now been below 3% for six of the last seven weeks. 

“This year has been anything but normal and as the uncertainty lingers, mortgage rates remain near record lows,” Freddie Mac's Sam Khater said in a release. “These rates continue to incentivize potential buyers and the home buying season, which shifted from spring to summer, will likely continue into the fall.”

The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

See other articles related to: interest rates, mortgage rates, record low mortgage rates

This article originally published at https://dc.urbanturf.com/articles/blog/291-mortgage-rates-fall-to-just-above-record-low/17243.

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