The pandemic affected the economy of many countries causing interest rates to reach an all-time low. This is a great opportunity to get a mortgage for your dream home or get refinancing. If your finances are in good shape, it is best to work on applying for a loan now. But if you are struggling financially or you have lost income because of the pandemic, it is probably best to hold off on your home purchase. Fannie Mae predicts that mortgage rates will hover near 3% for the rest of 2020 and may even fall to 2.9% in 2021 so this may give you ample time to improve your credit score and settle debt obligations.