The benchmark 30-year fixed-rate mortgage fell this week to 3.71 percent from 3.75 percent, according to Bankrate’s weekly survey of large lenders.
Mortgage rates have declined with the 10-year Treasury note, which closely tracks mortgage rates. Stocks and government bond yields are falling in the wake of worries about the worldwide coronavirus outbreak.
A year ago, the 30-year rate was 4.54 percent. Four weeks ago, the rate was 3.70 percent. The 30-year fixed-rate average for this week is 0.91 percentage points below the 52-week high of 4.62 percent, and is 0.01 percentage points greater than the 52-week low of 3.70 percent.
The 30-year fixed mortgages in this week’s survey had an average total of 0.30 discount and origination points.…