The average U.S. rate for a 30-year fixed mortgage fell to 3.29% this week, the lowest ever recorded by Freddie Mac in a series that goes back to 1971.

The rate fell 16 basis points from the prior week after the worst stock retreat since the 2008 financial crisis sent investors piling into the bond markets. The yield on 10-year Treasuries, a benchmark for mortgage investors, fell to a record low this week as money managers sought safe havens amid coronavirus fears.

Falling home-loan rates…Click Here to continue reading