Mortgage Rates Fall on Coronavirus Concerns

Home Loan

U.S. Treasuries has fallen to their lowest levels since October 2019. The deadly coronavirus outbreak in China that has spread to other countries, including the U.S., is having an impact on mortgage rates.

What Borrowers Should Do

Do not try to time the market. Lock in your low rate today.

If you’re currently shopping for a mortgage, experts warn against trying to time the market. Although signs point to lower mortgage rates, tides could turn, so there’s no guarantee that you’ll get a better deal tomorrow than what you can lock in today.

Also, keep in mind, that your credit history has a major impact on the interest rate you will qualify for, so make sure your FICO score and debt-to-income ratio are optimal to secure the lowest rate.

Contact us to discuss your situation

Call Mike Amos (626) 538-2001