Will mortgage rates go down in March 2020?
Mortgage rates forecast for March 2020
March should be another stellar month for mortgage rates.
Rates hit a 3.5-year low in February and are holding to similar levels.
There have been few better times to lock in a mortgage. A $300,000 home loan now costs $250 per month less than it did in late 2018, according to Freddie Mac data.
Sure, rates could go lower, but there’s much more upside to rates right now than downside.
Consider carefully whether you want to bet on lower rates
Predictions for March
March could be a wild ride for mortgage rates. Market-moving news will leave rates different than they were in February. The only question is, will they be more or less advantageous for mortgage shoppers?
Forecasts for 2020 say rates will average around 3.7%. But rates could fluctuate greatly around that range. For instance, rates could bounce between 3.5% and 4% all year, and you’d get an average of around 3.7%. But when you lock during that range is important. The good news is that 30-year fixed rates are now near 3.5% according to Freddie Mac. It’s time to consider locking in the low end of 2020’s mortgage rate range.
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