What’s the Latest on Mortgage Rates?

Mortgage rates have fallen by over a full percentage point since Q4 of 2018, hovering at near historic lows. This is big news for buyers looking to get more for their money in the current housing market.

According to Freddie Mac’s Primary Mortgage Market Survey, “We expect rates to remain low, falling to a yearly average of 3.8% in 2020 and 2021.”

Freddie Mac notes that this is great news for homebuyers, stating, “Modest increases in home sales and house prices will boost purchase mortgage originations for the foreseeable future.”

As a potential buyer, the best thing you can do is work with a trusted advisor who can help you keep a close eye on how the market is changing. Relying on current expert advice is more important than ever when it comes to making a confident and informed decision for you and your family.

Bottom Line

Even a small increase (or decrease) in mortgage rates can impact your monthly housing costs. If buying a home is on your short list of goals to achieve, let’s get together to determine your best move.