Mortgage interest rates hit another record low at 3.37% as buyers and mortgage applications continue to flood the market. 

Mortgage applications rose 5% for the week and are a whopping 18% higher than a year ago. This is a big comeback from the 35% decrease that we saw at the beginning of the coronavirus outbreak. 

“The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of up to $510,400 decreased to 3.37% from 3.42%. Points, including the origination fee, for loans with a 20% down payment decreased to 0.30 from 0.33.” 

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