15 year mortgages were even lower (2.38% APR at the time) but I didn't want to gamble too much with COVID uncertainties (for all we know this pandemic could ride on 2-5 years).
If you're fairly financially solid and looking at real-estate, it's not a terrible time. My agent also offered a COVID plan free which declares my agent's agency will re-list and resell the property for me at no cost should I desire within one year (obviously, I'd lose any difference in value should the the market value decline, but if things get truly nasty, I can likely bounce out before the market adapts given how quick sell turnover rates are here). No closing costs would be charged under this case (obviously any require renovations would be my liability).
I should add that my mortage will be less than what I'm currently paying in rent... and in pretty solid tech hub that isn't SF.