The lowest mortgage rates EVER!

The 30-year fixed-rate mortgage dropped to an average of 3.15% during the week ending May 28, a decrease of nine basis points from the previous week, Freddie Mac, the lowest level since Freddie Mac began tracking this data starting in 1971. A year ago, the 30-year fixed-rate mortgage averaged 3.99%.The 15-year fixed-rate mortgage dropped eight basis points to an average of 2.62%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.13%, down four basis points from a week ago. (Marketwatch) The previous record low was set at the end of April, when the average rate on a 30-year home loan dropped to 3.23%. This is now the third time in 2020 when the mortgage market has recorded a new historical low for interest rates.