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Mortgage Rates Drop to New Record Low of 2.81%

  • October 15, 2020

by UrbanTurf Staff

Mortgage rates dropped to yet another record low this week. 

On Thursday, long-term mortgage rates fell to 2.81%, five basis points lower than the record low set just weeks ago. It is the tenth time this year that rates have dropped to a new record low. 

“Low mortgage rates have become a regular occurrence in the current environment,” Freddie Mac's Sam Khater said in a release. “As we hit yet another record low, the tenth record this year, many people are benefitting as refinance activity remains strong. However, it’s important to remember that not all people are able to take advantage of low rates given the effects of the pandemic.”

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: record low mortgage rates, mortgage rates, interest rates

This article originally published at http://dc.urbanturf.com/articles/blog/mortgage-rates-drop-to-new-record-low-of-281/17410

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