How the coronavirus could help your mortage

Tulsa, Okla. — The stock market just had its worst week since October of 2008, according to experts.

This has also caused the mortgage rates to drop.

We spoke to a local expert who says home mortgage rates are historically low and could even surpass November 2012 as the lowest we’ve seen.

Lower mortgage rates also means many people are refinancing.

Bank of Oklahoma officials say this week, they’ve already seen an 8% increase in refinances.

These lower rates could also help first time buyers who have been struggling to purchase a home in this market.