Lowest Mortgage Interest Rates in History! May 7, 2020

It has been a wild roller coaster ride for mortgage interest rates!? On March 9th rates took a sudden drop, sparking a refinance boom like lenders have never seen.? Loan Officers were taking calls into the nighttime hours as borrowers were trying to take advantage of the drop.? Within 2 days, those low rates were gone, and rates spiked from 2.875% on a 30 year fixed rate loan to 4.00%!!? Within 48 hours.? It was crazy.? Then rates started trickling back down and within 2 weeks, by the end of March, mortgage interest rates were back down to around 3.0%.? They have held there for the most part since, and the refinance boom has continued.? What will they do in the future?? No one knows, but as long as they last, it is a great time to buy or refinance!