Category Archives: Interest Rates

Mortgage Rates Remain Relatively Flat

October 29, 2020
The record low mortgage rate environment is providing tangible support to the economy at a critical time, as housing continues to propel growth. Strong purchase demand is helping to lift the construction, manufacturing and transportation industries that build new homes and it is also leading to more consumer spending for owners, who are selling or improving their homes. On the refinance front, many consumers are smartly taking advantage of the ability to lower their monthly payment, which means they can spend, save or pay down debt more so than they have in the past.

Information provided by Freddie Mac.

Mortgage Rates Continue to Trend Down

October 22, 2020
Mortgage rates remain very low, providing homeowners who have not already taken advantage of this environment ample opportunity to do so. Mortgage rates today are on average more than a full percentage point lower than rates over the last five years. This means that most low- and moderate-income borrowers who purchased during the last few years stand to benefit by exploring refinancing to lower their monthly payment.

Information provided by Freddie Mac.

Mortgage Rates Drop, Hitting Another All-Time Low

October 15, 2020
Low mortgage rates have become a regular occurrence in the current environment. As we hit yet another record low, the tenth record this year, many people are benefitting as refinance activity remains strong. However, it’s important to remember that not all people are able to take advantage of low rates given the effects of the pandemic.

Information provided by Freddie Mac.

Mortgage Rates Decrease

October 1, 2020
As a result of low mortgage rates that have stayed under three percent since July, the housing market has seen a strong, upward trajectory during a very uncertain time. We’re seeing potential home buyers who now have more purchasing power and many current homeowners who have the option to refinance their loan for a better rate. However, several factors could disrupt this activity including high home prices, low inventory and lender capacity.

Information provided by Freddie Mac.

Mortgage Rates Tick Up

September 24, 2020
Mortgage rates set several record lows over the last few months and have remained low into September. While there is room for rates to decrease even more, higher home prices and low inventory could potentially stifle the high demand that we’ve been seeing.

Information provided by Freddie Mac.

Mortgage Rates Generally Hold Steady

September 17, 2020
Despite the recession, the very low mortgage environment has spurred many first-time homebuyers to jump into the real estate market. In August, first-time homebuyer activity rose 19 percent from July to the highest monthly level ever for Freddie Mac. The first-time homebuyer driven rebound in the housing market has come at a critical time for the economy.

Information provided by Freddie Mac.

Mortgage Rates Hit Another All-Time Low

September 10, 2020
Mortgage rates have hit another record low due to a late summer slowdown in the economic recovery. These low rates have ignited robust purchase demand activity, which is up twenty-five percent from a year ago and has been growing at double digit rates for four consecutive months. However, heading into the fall it will be difficult to sustain the growth momentum in purchases because the lack of supply is already exhibiting a constraint on sales activity.

Information provided by Freddie Mac.

Mortgage Rates Remain Relatively Flat

September 3, 2020
Mortgage rates have remained effectively flat or at near record lows for the last month. However, there are some interesting compositional shifts as the 10-year Treasury rate has increased modestly over the past month while mortgage spreads have declined. Spreads may decline even further but the rise in Treasury rates will make it difficult for mortgage rates to fall much more over the next few weeks.

Information provided by Freddie Mac.

Mortgage Rates Fall

August 27, 2020
This year has been anything but normal and as the uncertainty lingers, mortgage rates remain near record lows. These rates continue to incentivize potential buyers and the home buying season, which shifted from spring to summer, will likely continue into the fall.

Information provided by Freddie Mac.

Mortgage Rates Inch Up

August 20, 2020
Purchase housing demand continues to accelerate, ultimately providing support to an economy that otherwise has stagnated. The surge in sales led to a rapid increase in the demand for remodeling and home furnishings as consumers look to renovate while adjusting to home life during COVID.

Information provided by Freddie Mac.