Market Update: Mortgage interest rates are one of the lows

The Real Estate Investors Forum USA January 31
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By: Eddie Gur REMAX FL

Friends, I wanted to update you on the state of the US real estate and mortgage market.

Mortgage interest rates have been at one of the lows (the second low record) over the past three years.

 

What it means? Usually when interest rates are low, there is more movement of buyers to purchase properties (as long as there are no other market disruptions).

Also the expectation that 2020 is an election year and interest rates usually rise in an election year due to a lack of clarity about what will be in power and whether things will change. 

 

Close to most elections there are stagnant people waiting

 

Which means that now may be a good time to sell and buy because of the low interest rates.

 

I would love to provide more information, below is the article

https://www.floridarealtors.org/news-media/news-articles/2020/01/mortgage-rates-hit-second-lowest-level-3-years Mortgage Rates Hit Second-Lowest Level in 3 Years

The 30-year FRM averaged 3.51% this week in Freddie Mac's survey, down from last week's 3.60%. The 15-year FRM average dropped to 3.0% .WASHINGTON - US long-term mortgage rates continued to fall this week, breaking already historically low levels and offering an incentive to potential homebuyers.

Mortgage buyer Freddie Mac said Thursday the average rate for a 30-year fixed-rate mortgage dropped to 3.51% from 3.60% last week. The benchmark rate stood at 4.46% a year ago.

The average rate on a 15-year mortgage declined to 3% from 3.04% last week.

Federal Reserve policymakers continued to keep interest rates low at their latest meeting this week. But the Fed chair warned that the viral outbreak in China poses a new threat to the strengthening global economy.

 

 

Sincerely,

 

Eddie Gore.

Real Estate Consultant and Certified Realtor in Florida and Ohio

Works at REMAX Dr. Florida

Israeli Phone: 050-8708643

US Phone: + 1-954-667-8487

Email: [email protected]   

Website: www.eddiegur.com

Professional Page: rem.ax/EddieGur

 

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