Mortgage rates dipped once again, according to Freddie Mac’s survey of lenders, as a 30-year fixed-rate loan is now going for 3.81%, down from 3.92%, reports Lorraine Woellert of Redfin.
Mortgage rates have now fallen for three consecutive weeks and are now at the lowest they’ve been since October. Woellert believes rates will drop further in the coming weeks. And given all that’s going on in the world–stock market woes, falling oil prices, and economic unease in China–it’s a decent bet home loans will get even cheaper, at least in the near term.
“The Freddie Mac mortgage rate survey had difficulty keeping up with market events this week,” Freddie chief economist Sean Becketti said, as weak inflation and “nonstop financial market turbulence” drove investors to financial safe havens.