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The mortgage rate in the US fell below 3% for the first time in history

The mortgage rate in the US fell below 3% for the first time in history

The rate on a 30-year mortgage in the United States fell to a record low of 2.98% for the first time in history, according to the data released on Thursday by one of the largest American mortgage agencies, Freddie Mac, which registers the value of the indicator since 1971.

As the Agency notes, the rate reduction is due to the economic crisis in the United States, caused by a new type of coronavirus pandemic. Back in January, this rate was 3.72%, and in July last year - 3.81%.

The rate on a 15-year mortgage fell to 2.48%.

The coronavirus pandemic forced the US Federal Reserve System (FED), which serves as the country's Central Bank, to lower its key interest rate to 0 - 0.25% per annum to stimulate economic growth. At the same time, Federal Reserve Chairman Jerome Powell stressed that the country's GDP in the second quarter of this year might decrease by 20-30% due to the consequences of coronavirus infection.

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