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Mortgage Rates Slip to Record Low 2.98% for 30-Year Loans

  • Low borrowing costs in U.S. have fueled demand for homes
  • Real estate has held up better than expected in pandemic
    
Photographer: Victor J. Blue/Bloomberg
Updated on

Mortgage rates are searching for the floor.

The average for a 30-year fixed loan fell to 2.98%, slipping below a psychological threshold that could fuel even more demand for housing.