Mortgage rates hit all-time low amid coronavirus concerns: Freddie Mac

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Mortgage rates fell to an all-time low following the Federal Reserve’s decision to cut interest rates this week, which prompted the 10-year Treasury to drop below 1% for the first time ever. The 30-year fixed-rate mortgage averaged 3.29% for the week ending March 5, down from 3.45% the previous week, Freddie Mac reported. The 15-year fixed-rate mortgage, meanwhile, fell to an average of 2.79%, while the 5-year Treasury-indexed adjustable-rate mortgage averaged 3.18%.