(Bloomberg) -- Mortgage rates are back below 3%.
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The average for 30-year loan fell to 2.99%, down from 3.01% last week, Freddie Mac said in a statement Thursday.
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“Mortgage rates continue to hover at around 3% again this week due to rising economic and financial market uncertainties,” said Sam Khater, chief economist at Freddie Mac.
Cheaper borrowing costs have fueled the pandemic housing rally. Last week, rates surged above 3% for the first time since June.
The record low for 30-year loans came in January at 2.65%.
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