Has spending extra time at home made you realize that you don’t love the place you currently live? For those who are in a position to buy a home, now many be a great time to take advantage of historically low interest to find the home you’ve been dreaming of and the lifestyle you deserve.
According to a recent article by Yahoo Finance, lenders are still offering some of history's lowest mortgage rates this week: The average for a 30-year home loan has risen just slightly off last week's all-time low in a widely followed survey that's been going on for nearly half a century.
Homeowners — who are refinancing and mowing down their monthly payments — are no longer largely the only ones taking advantage of the low rates. Homebuyers are starting to shop and borrow again, especially in parts of the country where coronavirus restrictions are easing, people in the industry say. Super-low mortgage rates are helping to draw them out.
Mortgage rates have edged up this week to an average 3.26% for a 30-year fixed-rate home loan, from last week's 3.23%, mortgage giant Freddie Mac reports. The rate last week was the lowest ever reported in the weekly Freddie Mac survey, which started tracking mortgage rates in 1971.
The survey rates come with an average 0.7 point. Last year at this time, the typical rate on a 30-year fixed mortgage was close to one full percentage point higher, at 4.10%.
You can read the full article here.
Looking for more insight? Here is a another great article about Buying a New Home During Times of Uncertainty.
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