Coronavirus Worries Bring Mortgage Rates To Record Lows

The video discusses the record low mortgage rates reported by FreddieMac, which have fallen to 3.29%, the lowest since 1971. This decline is linked to fears over the coronavirus, which has led investors to move money out of Wall Street. The low rates are beneficial for first-time home buyers and those looking to refinance, potentially boosting the US economy. However, a significant rise in home buying is unlikely due to a shortage of homes for sale.

What was the recent change in the average 30-year fixed mortgage rate according to FreddieMac?

• It increased from 3.29% to 3.45%

• It decreased from 3.45% to 3.29%

• It increased from 3.29% to 3.50%

• It remained stable at 3.45%

What is the primary reason for the recent decline in mortgage rates?

• A surge in home buying

• A decrease in inflation

• Government intervention

• Fears over the coronavirus

How has the coronavirus outbreak affected investor behavior?

• Investors are buying more stocks

• Investors are moving money out of Wall Street

• Investors are unaffected by the outbreak

• Investors are investing more in real estate

What potential benefit do declining mortgage rates offer to first-time home buyers?

• Higher monthly payments

• Access to more money

• More homes available for sale

• Increased home prices

Why is a major rise in home buying not expected despite lower mortgage rates?

• High interest rates

• Lack of available homes for sale

• Increased construction costs

• Decreased demand for homes