A New Record! Mortgage Rates Drop Below 3%
Mortgage interest rates once again dropped below 3% for the first time since Feb. 25, allowing for a potential surge in mortgage originations as more homeowners become eligible to refinance. Average mortgage interest rates for a 30-year fixed-rate mortgage dropped to 2.97% for the week ending April 22, 2021. This is down significantly from last week’s 3.04% and last year’s 3.33%. The last time the 30-year fixed rate fell below 3% was for the week ending Feb. 25, when it hit 2.97%.
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Have a wonderful weekend!
Chawla Real Estate Team
