Mortgage Rates Fall to a Record Low Rate for 8th Time in 2020

Mortgage Rates Fall to a Record Low Rate for 8th Time in 2020 The average interest rate for a 30-year fixed-rate mortgage fell to 2.88 percent last week.

Just a year ago, the rate for the same mortgage averaged 3.6 percent.

For a 15-year fixed-rate mortgage, the average rate fell to 2.44 percent last week.

Rates were pushed lower by unprecedented national unemployment, as well as a delay in a new stimulus package.

Though interest rates have fallen to record lows, homebuyers are struggling to find homes on the market.

George Ratiu, via MarketWatch George Ratiu, via Market Watch