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
Today’s low mortgage rates are not just low – they’re hovering near historic all-time lows.
Freddie Mac 30-Year Fixed Rate
The even better news? According to Freddie Mac, rates are forecasted to remain low through the first quarter of next year (see graph).
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5/7
2/6 3/5 4/2
11/7 12/5 1/2
9/5 10/3
6/6 7/3 8/1
3/7 4/4 5/2
12/6 1/3 1/31
9/6 10/4 11/1
6/7 7/5 8/2
4/5 5/3
January 2018 – Today Actual Interest Rates 1/4 2/1 3/1
Lawrence Yun, Chief Economist at NAR, says:
Where Are They Going? 3.2
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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. 6
