Mortgage Rates Sink to Another Record Low!
Average 30-year mortgage rates fell to a record low of 2.88%, according to Freddie Mac, a government-sponsored agency that backs millions of American mortgages. This is the eighth time in 2020 that rates have hit new record lows.
The most previous instance was on July 16, when rates also fell below 3% for the first time in the Freddie Mac Primary Mortgage Market Survey®’s 49-year history.
Rates for 15-year terms are even lower! There's never been a better time to see if refinancing your home can help you accomplish some financial goals.