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(Prices and inventory current as of Dec 3, 2020)

See Pictures and updates (icon)See photos and updates from listings directly in your feed

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Save your search (icon)Save your search and get new listings directly in your mailbox before everybody else

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Interest Rates Hit New 12 Month Low!

Interest Rates Hit New 12 Month Low!

Interest Rates Hit New 12 Month Low! | Keeping Current Matters

According to Freddie Mac’s Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at their lowest for 2019. Rates like these haven’t been seen since February 2018!

Last week’s survey results reported an interest rate of 4.35%. This is a welcome change from the near 5% rates seen in mid-November. At 4.32%, the second week of February 2018 was the last time rates were this low. This can be seen in the chart below.

Interest Rates Hit New 12 Month Low! | Keeping Current Matters

Freddie Mac’s Chief Economist, Sam Khater, had this to say:

“Mortgage rates fell for the third consecutive week, continuing the general downward trend that began late last year.

Wages are growing on par with home prices for the first time in years, and with more inventory available, spring home sales should help the market begin to recover from the malaise of the last few months.”

Bottom Line

If you plan on buying a home this spring, meet with a local real estate professional who can help prepare you for today’s market before rates increase!


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Have You Set Up Personalized Posts Yet? | Keeping Current Matters

The post Interest Rates Hit New 12 Month Low! appeared first on Keeping Current Matters.


Source: Simplifyingthemarket

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