“U.S. Mortgage Rates Tumble to a Record Low”
May 1, 2020
“The average rate for a 30-year loan was 3.23%, down from 3.33% last week and the lowest in almost 50 years of data-keeping, Freddie Mac said in a statement Thursday. The previous record was 3.29%, reached in early March.
The coronavirus outbreak has fueled chaos in the mortgage market. Rates had ticked slightly higher in recent weeks, in part because lenders were pricing mortgages defensively. They had more customers than they could handle with rates so low. Now, the slowdown in the economy has curbed demand for new loans while they work through the backlog…”
https://finance.yahoo.com/news/u-mortgage-rates-tumble-record-140000589.html