Number Talk: Mortgage Rates at Record Lows

Last week, Freddie Mac announced that the 30-year fixed-rate mortgage averaged a record low 3.07% for the week prior, a huge drop from 3.75% just one year ago. As our regular readers may recall, the previous record low of 3.13% was set just two weeks ago. Could rates drop below 3%? Realtor.com has the scoop.

Meanwhile, according to the CoreLogic S&P Case-Shiller Index for April, Bay Area housing prices continued to bounce back from a 2018 hiccup to hit new highs in early spring 2020 (see the red line in the chart below). National prices have been steadily climbing as well (green line).