Warning: file_exists(): File name is longer than the maximum allowed path length on this platform (260): C:\zpanel\hostdata\zadmin\public_html\forexbr_com_br/wp-content/cache/supercache/www.forexbr.com.br/2020/03/13/mortgage-rates-increased-this-week-despite-the-coronavirus-turmoil-heres-why-you-havent-missed-the-chance-to-refinance/meta-wp-cache-751e0ae6cd8f97e75cc90e6034a25d11.php in C:\zpanel\hostdata\zadmin\public_html\forexbr_com_br\wp-content\plugins\wp-super-cache\wp-cache-phase2.php on line 71 Mortgage rates increased this week despite the coronavirus turmoil — here’s why you haven’t missed the chance to refinance – Forex Brasil

Mortgage rates increased this week despite the coronavirus turmoil — here’s why you haven’t missed the chance to refinance

Even as concerns mounted regarding the coronavirus pandemic, mortgage rates increased this past week as lenders sought to stem the tide of people looking to refinance their home loans.

The 30-year fixed-rate mortgage averaged 3.36% for the week ending March 12, up from 3.29% the previous week, Freddie Mac FMCC, +21.99% reported Thursday.

The 15-year fixed-rate mortgage, meanwhile, fell two basis points to an average of 2.77%. The 5-year Treasury-indexed adjustable-rate mortgage averaged 3.01%, down sharply from 3.18% last week.

Last week, 30-year fixed-rate mortgages hit an all-time low since Freddie Mac started tracking loan rates in 1971. That triggered an avalanche of mortgage applications from borrowers looking to lock in the lowest interest rates they’ve likely seen in their lifetimes. Refinancing volume hit its highest level since April 2009, the Mortgage Bankers Association reported Wednesday.