Photo by Scott Graham on Unsplash
MarketWatch | Jacob Passy
At the beginning of the coronavirus pandemic, mortgage industry experts forecast that benchmark interest rates might fall, but wouldn’t drop below 3%. But now, that’s just what has happened.
And many economists predict that mortgage rates will remain below that threshold into 2021.
The 30-year fixed-rate mortgage averaged 2.98% for the week ending July 16, down five basis points from the previous week, according to Freddie Mac.
Read the story online: Mortgage rates drop below 3% for the first time — and economists say rates could stay that low through 2021