(Bloomberg) — Rates for 30-year U.S. mortgages tumbled to the lowest on record as fears of a blow to the economy from the coronavirus sent investors rushing to the safety of Treasuries.The average rate was 3.29%, down from 3.45% last week and the lowest in 49 years of data-keeping, Freddie Mac said in a statement Thursday. The previous low, in November 2012, was 3.31%.Plunging borrowing costs have set the stage for a spring housing boom and are giving homeowners a fresh opportunity to refinance into cheaper loans. Lenders are staffing up to meet the demand. Quicken Loans Inc., the nation’s …read more
Source:: Yahoo Finance
