Will mortgage rates go down in April 2020?

Will mortgage rates go down in April 2020?

Tuesday, March 24, 2020

Mortgage rates are set to swing wildly in April amid ever-developing COVID-19 news.

The coronavirus wreaked havoc on the stock market in March, and typically that leads to lower rates.

But these days, all bets are off.

Rates skyrocketed to levels not seen since January after briefly hitting an all-time low in early March. Will mortgage rates go down again in April 2020?

While there’s a chance of that, we predict rates staying above all-time-lows until at least June.

Still, prudent rate shoppers should be ready to secure a historic rate if the opportunity presents itself. Our advice: apply now and lock later.

If you are thinking of purchasing or building a new residential home, now may be the best time to get low-interest rates.  Call Paul Anthony Homes today at 586-786-7508 or reach out on our contact form to discuss your dream home.

 

Article by Tim Lucas - The Mortgage Reports Editor

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