This week’s national average for a 30 year fixed rate mortgage is 3.7% that’s down seven basis points from last week. This is the lowest mortgage rates have been since October 2016. The average clicked on rate by consumers on Bankrate.com is 3.6%, one basis point lower than the national average.
The resounding theme this week was the coronavirus. Experts point to the recent outbreak as the reason the U.S, market will slow down which will keep rates where they or even drive them lower.
We’ll be back next week for a fresh crop of mortgage rate predictions.