A 30-Year Mortgage Below 3%? Treasury Rally Offers Bargains
- Gap soars between government bond yields and mortgage rates
- Best deals for homebuyers may come as spread returns to normal
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Homeowners are starting to lock in some of the lowest 30-year mortgage rates ever, yet many in the business say the best deals may be yet to come.
Mortgage rates that were sinking for much of 2019 just hit new all-time lows, and brokers say they’re locking in 30-year rates south of 3% for some customers. Still, thanks to the dynamics of the mortgage market and seemingly endless demand for U.S. government bonds, industry veterans expect borrowing costs to fall even further.