Mortgage Rates Hit Lowest Point in 50-Year History

Dated: 03/06/2020

Views: 275

mortgage rates hit lowest point in 50-year history

I'm sure you've all heard how low mortgage interest rates are.  And certianly now is a good time to buy your first home, move up or downsize (especially you empty nesters out there), or refinance your current home, but I'm not sure most people know how good we have it right now.

On the heels of a roller-coaster stock market and emergency rate cut from the U.S. Federal Reserve as fears about the spread of coronavirus (COVID-19) impact the U.S., mortgage rates hit a historic low this week. The average 30-year fixed-rate mortgage plummeted to 3.29 percent, an all-time low, according to Freddie Mac.

“The average 30-year fixed-rate mortgage hit a record 3.29 percent this week, the lowest level in its nearly 50-year history,” Freddie Mac Chief Economist Sam Khater said in a statement. “Meanwhile, mortgage applications increased 10 percent last week from one year ago and show no signs of slowing down.”

Please call, text, or email me if you have any questions and I'll get you in touch with a high quality mortgage professional that can save you hundreds of dollars per month.

Who do you know that's been talking about buying, selling, or investing in Real Estate?  Call Allen and start packing!  760-271-5153  Allen@AllenMeredith.com

Blog author image

Allen Meredith

If you are looking for a low-pressure agent that knows North San Diego area, well look no further than Allen Meredith. Allen grew up in North County, raised his family in North County, and will help y....

Latest Blog Posts

Mortgage Rates Hit Lowest Point in 50-Year History

I'm sure you've all heard how low mortgage interest rates are.  And certianly now is a good time to buy your first home, move up or downsize (especially you empty nesters out there), or

Read More

San Diego Calendar Of Events - November 2019

 Old Town Dia de los Muertos   Nov. 1-3 This free event will include the traditional candlelight procession on November 2nd. The celebration will continue throughout the weekend with

Read More

Pending Home Sales Up and “Less Affordable” Down

 Encouraging Trends for Home Sales and Affordability        Pending Home Sales, which measures signed contracts on existing homes and is a good leading indicator

Read More

Home Appreciation Is On The Rise, And The Demand – It May Be A Good Time For Homebuyers To Act Now

 In housing news, CoreLogic reported that home prices rose 0.5% in July and 3.6% year over year. The year over year reading increased from 3.4% to 3.6% and remains at a very sustainable and

Read More