(Bloomberg) Rates on a 30-year mortgage in the US slid to 2.9%, the lowest since February 18 and below 2.98% reached last week.
The plunge in mortgage rate follows plunges in the 10-year Treasury which hit below 1.3% for the first time since February on increasing concerns of Covid-19 variants.
Analysts project homeowners taking advantage of the fall in mortgage rate to refinance their loans.
Mortgage rates hovered around 3% for about three months before plunging to a record low in January
SPDR Homebuilders ETF is down -1.56%.
