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.

How might declining mortgage rates impact first-time home buyers?

What is the expected impact of the current housing market on home buying?