The 2020 housing market has surpassed all expectations and continues to drive the nation’s economic recovery. The question is, will this positive trend continue throughout the rest of the,
Interest Rates Hit a New 12 Month Low!
Dated: February 27 2019
Views: 43
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.
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!
Jerri Banner
I have been a Realtor for 21 years and a lifelong resident of the Triad area of NC. I am fortunate to work with my husband, Alan and my daughter, Kayla who grew up tagging along to showings and open ....
Latest Blog Posts
Many industries have been devastated by the economic shutdown caused by the COVID-19 virus. Real estate is not one of them.Mark Fleming, Chief Economist for First American,
One of the biggest misconceptions for first-time homebuyers is how much you’ll need to save for a down payment. Contrary to popular belief, you don’t always have to put 20% down to
There are many benefits to working with a real estate professional when selling your house. During challenging times, like what we face today, it becomes even more important to have an expert you
Listing information © 2020 Triad MLS, Inc. of North Carolina. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) Program of the Triad MLS, Inc. of High Point, NC. Real estate listings held by brokerage firms other than Banner Team Properties/eXp Realty are marked with the Internet Data Exchange logo or the Internet Data Exchange (IDX) thumbnail logo (the TRIAD MLS logo) and detailed information about them includes
