A sign advertising home loan rates for purchase or refinancing at a Bank of America in New York.

Scott Mlyn | CNBC

The average rate on the popular 30-year fixed mortgage just fell to 3.09%, a record low, according to Mortgage News Daily.

A weaker-than-expected read on April’s coronavirus-affected retail sales released Friday contributed to the decline, as investors moved into the relative safety of the bond market, pushing yields down. Mortgage rates loosely follow the yield on the 10-year Treasury. 

Mortgage rates are not an exact science, so there are some lenders now even lower, offering 3% and even 2.75%-2.875% for perfect scenarios. There are also lenders remaining at higher rates. 

“Not every lender is there, though,

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