Mortgage Rates Hit Another All-Time Low of 2.86% for a 30 year fixed rate mortgage

Posted by Ken Miller on Thursday, September 10th, 2020 at 7:34am

Mortgage rates have hit another record low due to a late summer slowdown in the economic recovery. These low rates have ignited robust purchase demand activity, which is up twenty-five percent from a year ago and has been growing at double digit rates for four consecutive months. However, heading into the fall it will be difficult to sustain the growth momentum in purchases because the lack of supply is already exhibiting a constraint on sales activity.

 

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