Coronavirus is spreading rapidly and keeping more consumers inside their homes, but you wouldn’t know it looking at the Bay Area’s housing market. Most listings are generating a lot of activity and more homes are slowly coming onto the market. Right now interest rates are the hitting historic lows, which doesn’t necessarily mean low mortgage rates right away. With the Feds lowering prime lending rates it’s not only affects the refinance market, but the purchase market to. Today Joe and Mike provide a better understanding to prime lending rates and the market.
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