Mortgage rates moved modestly lower today, but face an uphill battle in general.  They fell very quickly as coronavirus first hit financial markets.  They hit multiple new all-time lows in since March 9th and continued setting new records as recently as last week for some lenders.  In fact, there are a few lenders that are offering their best rates ever TODAY.  The catch is that these rates are very similar to those seen yesterday and the day before (and so on and so on).  Markets are waiting to see if we can prevent a massive 2nd wave of coronavirus cases while still reopening the economy.  To whatever extent that’s possible, rates should begin to see gradual upward pressure.

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