Mortgage rates have dropped to record lows on eight separate occasions in 2020 so far, as the coronavirus pandemic has roiled the global economy.
But could they eventually drop to 0%? Well, if past precedent is any indication, there’s indeed a chance.
deputy chief economist Len Kiefer posted to Twitter
a chart showing the movements in the average rate of the 30-year fixed-rate mortgage following the Great Recession. As he pointed out, interest rates on home loans dropped in four of the five years following the 2008 financial crisis, falling roughly three percentage points.
This week, mortgage rates…