Mortgage Rates Maintain Record-Low Of 3.13%

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After hitting a historic low last week, mortgage rates held steady this week according to Freddie Mac's latest Primary Mortgage Market Survey, as the 30-year fixed-rate mortgage once again averaged 3.13%.

After hitting a historic low last week, mortgage rates held steady this week according to Freddie Mac's latest Primary Mortgage Market Survey, as the 30-year fixed-rate mortgage once again averaged 3.13%.

"After the Great Recession, it took more than 10 years for purchase demand to rebound to pre-recession levels, but in this crisis, it took less than 10 weeks," said Sam Khater, Freddie Mac’s chief economist. "The rebound in purchase demand partly reflects deferred sales, as well as continued interest from prospective buyers looking to take advantage of the low mortgage rate environment."

Click here to read more from Freddie's PMMS.

This article originally appeared in the National Mortgage Professional print magazine.

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Written by 
Navi Persaud
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Mortgage Rates Maintain Record-Low Of 3.13%
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Mortgage Rates Maintain Record-Low Of 3.13%

June 25, 2020
by
Navi Persaud

After hitting a historic low last week, mortgage rates held steady this week according to Freddie Mac's latest Primary Mortgage Market Survey, as the 30-year fixed-rate mortgage once again averaged 3.13%.

"After the Great Recession, it took more than 10 years for purchase demand to rebound to pre-recession levels, but in this crisis, it took less than 10 weeks," said Sam Khater, Freddie Mac’s chief economist. "The rebound in purchase demand partly reflects deferred sales, as well as continued interest from prospective buyers looking to take advantage of the low mortgage rate environment."

Click here to read more from Freddie's PMMS.

Written by 
Navi Persaud

Navi is the Director of Online Content for American Business Media in West Hartford, Conn.

npersaud@ambizmedia.com

These articles are powered by National Mortgage Professional

Mortgage Rates Maintain Record-Low Of 3.13%
June 25, 2020 11:58 AM
by
Navi Persaud
Trends

After hitting a historic low last week, mortgage rates held steady this week according to Freddie Mac's latest Primary Mortgage Market Survey, as the 30-year fixed-rate mortgage once again averaged 3.13%.

"After the Great Recession, it took more than 10 years for purchase demand to rebound to pre-recession levels, but in this crisis, it took less than 10 weeks," said Sam Khater, Freddie Mac’s chief economist. "The rebound in purchase demand partly reflects deferred sales, as well as continued interest from prospective buyers looking to take advantage of the low mortgage rate environment."

Click here to read more from Freddie's PMMS.

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