Two Things in Your Corner: Mortgage Rates & Home Prices
Two things working to a buyer’s advantage today are low mortgage rates and home prices. Here’s a look at what the experts are saying, and why sooner rather than later may be an ideal time to buy a home. 1. Low Mortgage Rates
Mortgage Rates Freddie Mac 30-Year Fixed Rate
Today’s low mortgage rates are not just low – they’re hovering near historic all-time lows. The even better news? According to Freddie Mac , rates are forecasted to remain low through the first quarter of next year (see graph). Lawrence Yun, Chief Economist at NAR, says:
Where Are They Going?
January 2018 – Today Actual Interest Rates
2020 Q2 2020 Q3 2020 Q4 2021 Q1
“After a pause, home sellers are gearing up to list their properties with the reopening of the economy…Plenty of buyers also appear ready to take advantage of record-low mortgage rates and the stability that comes with these locked-in monthly payments into future years.” Whether it’s your first home, your dream home, or a long-anticipated downsizing move, if you’re thinking of buying, now may be an ideal time to lock in a low rate.
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