Currently Reading

Will Mortgage Rates Remain Low Amid COVID-19?

Advertisement

Will Mortgage Rates Remain Low Amid COVID-19?


March 17, 2020
Aerial residential homes
By iofoto

With quarantines, school closures, and calls for increased social distancing across the country, we cannot seem to catch a break this week. For homeowners looking to refinance, at least mortgage rates are low. But will they stay there? Just last week, some homeowners rushed to refinance only to find the 30-year, fixed-rate mortgage jump unexpectedly, as experts forecasted rates to continue to drop, not rise, amid growing concerns surrounding the coronavirus. Still, economists say that those looking to lock in low rates will not suddenly wake up to sky-high rates. Though they may bounce around the current levels, the rates will  remain low for the time being.

“Will mortgage rates remain low?”

Probably, for the time being.

It’s a question many homeowners, and potential home buyers, are asking. But with uncertainty rampant, thanks to turbulent financial markets and the spreading coronavirus, it’s hard to say for sure just how long they’ll stay rock bottom.

Last week, for instance, the average rate on a 30-year, fixed-rate mortgage ticked up slightly to 3.36 percent from a record low — despite financial indicators that suggested it would fall.

What gives?

Read More

 

Related Stories

Housing Markets

How Mortgage Rates Affect the Housing Market

As mortgage rates go up, the housing rally slows down.

Economics

Lumber and Concrete Prices Fall in September

What the latest PPI report means for construction goods.

Economics

Consumer Price Increase Reported for September

Accelerated inflation is breaking the bank, but maybe not for much longer.

Advertisement
Advertisement

More in Category




Advertisement
Advertisement

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.