The Coronavirus (COVID-19) has caused massive global uncertainty, including a U.S. stock market correction no one could have seen coming. While much of the news has been about the effect
Are Low Interest Rates Here to Stay?...
Dated: November 3 2019
Views: 122
Interest rates for a 30-year fixed rate mortgage have been on the decline since November, now reaching lows last seen in January 2018. According to Freddie Mac’s latest Primary Mortgage Market Survey, rates came in at 4.12% last week!
This is great news for anyone who is planning on buying a home this spring! Freddie Mac had this to say,
“Mortgage interest rates have been steadily declining since the start of 2019. These lower mortgage interest rates combined with a strong labor market should attract prospective homebuyers this spring and could help the housing sector regain its momentum later in the year.”
To put the low rates in perspective, the average for 2018 was 4.6%! The chart below shows the recent drop, and also shows where the experts at Freddie Mac believe rates will be by the end of 2019.
Bottom Line
If you plan on buying a home this year, let’s get together to start your home search to ensure you can lock in these historically low rates today!
Guillaume Derouet
Born in Paris France, I moved to the United States of America in 2009 where I immediately embarked on my Real Estate career in Manhattan New York. Wanting to help people from all nationalities here an....
Latest Blog Posts
The 2020 housing market in detroit that May Surprise YouThis will be an interesting year for residential real estate. With a presidential election taking place this fall and talk of a possible
Some Highlights:With interest rates around 3.66%, now is a great time to look back at where they’ve been over the past few decades. Comparatively, they’re pretty low!According to
Inventory on the market today is low, especially among existing homes in the entry and middle-level tiers of the market. It is hovering well below the 6-month supply typically found
IDX provided courtesy of Realcomp II Ltd., via eXp Realty in Detroit and The Originating MLS(found above), © 2021 Realcomp II Ltd. Shareholders. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
