The 30-year fixed-rate mortgage is edging closer each week to the 3% mark. Freddie Mac reported that the 30-year rate averaged 3.03% this week, the lowest since the government-sponsored enterprise
How Much Lower Can Mortgage Rates Go? ☘ Hoey Team ☘ eXp Realty
The 30-year fixed-rate mortgage is edging closer each week to the 3% mark.
Freddie Mac reported that the 30-year rate averaged 3.03% this week, the lowest since the government-sponsored enterprise began tracking such data in 1971. Last week, the 30-year rate hit 3.07%, a record at the time. “The summer is heating up as record low mortgage rates continue to spur homebuyer demand,” says Sam Khater, Freddie Mac’s chief economist. “However, it remains to be seen whether the demand will continue if COVID-19 cases rise to the point that it hinders economic growth.”
Freddie Mac reports the following national averages for the week ending July 9:
- 30-year fixed-rate mortgages: averaged 3.03%, with an average 0.8 point, falling from last week’s previous record low of 3.07%. Last year at this time, 30-year rates averaged 3.75%.
- 15-year fixed-rate mortgages: averaged 2.51%, with an average 0.8 point, falling from last week’s 2.56% average. A year ago, 15-year rates averaged 3.22%.
- 5-year hybrid adjustable-rate mortgages: averaged 3.02%, with an average 0.3 point, rising slightly from last week’s 3% average. A year ago, 5-year ARMs averaged 3.46%.
Freddie Mac reports average commitment rates, along with average fees and points, to reflect the total upfront cost of obtaining a mortgage.
Here in Southwest Florida, inventory is low, but we continue to list and sell real estate. At our Team ☘ and Brokerage, we have been succesfully working 100% virtually / remotely for the past number of years as we grew, so we have been used to this new requirement, and we just had our eXp shareholders summit, virtually, using VirBELA, which powers eXp World; our virtual campus.
Article content from NAR (National Association of Realtors) Newsletter and from other sources including Hoey Team ☘ eXp Realty and Freddie Mac
On this page we are adding a list of Vendors for COVID-19 related items here in SWFL. Please let us know if there is a Vendor / Store we should add: www.VisitCollier.Com Feel free to share with anyone looking.
NOTE for Buyers and Sellers: On our Hoey Team ☘ VIRTUAL OPEN HOUSE Page you may WATCH ? Detailed HD 3D Immersive VIDEO ? Walkthrough Tours for all our COMING to MLS & AVAILABLE LISTINGS right HERE: ? www.SWFLVRE.com ?
For more Real Estate related information as we go throught this COVID-19 experience, or if you have questions on any aspect of Buying, Selling, Upsizing, Downsizing, Moving within or Relocating to or from Florida (the number 1 state for people to move to), or on any aspect of the Real Estate Market, Locally, Nationally or Internationally, please let us know, we can help, we can address / answer your questions, and we are always available to help you or someone you know.
P.S. --> If You'd like for me to create a regular Video Tour for ANY of the Properties on our website, just CLICK "Video Request Button"; from property details. We can visit the property and record you a video, or, if you want, we can do a one on one Facebook Live Showing: https://HoeyTeam.239RealEstateDeals.Com
Hope Everyone Remains Safe; we are all in this together; and we trust that we will get through this Coronavirus COVID-19 pandemic more united, as one, with as little loss as possible.
Please let Kim or Barry know if we can do anything to help anyone in need here in Southwest Florida, weither it is for you or for a loved one, and we are able to help in a responsible social distncing way, we will certainly do what we can to help.
Also; please check out the other blogs, and tabs to many other Links, Updates, Reports & Stats that we have here on our informational website. ☘
We hope that you find the information useful. If you have any questions, please do not hesitate to contact Barry or Kim with the Hoey Team ☘ brokered by eXp Realty
“Please Share this and our informational website with anyone who you think the info will help.
Feel free to refer any family or friends; it is the greatest compliment that you can give to us; we really appreciate referrals from Past Customers, Friends and Fellow REALTORS, who we help in any way we can.
Most of our business is referrals by word of mouth; from past Sellers and Buyers who we have helped; please ask for and check out our testimonials and Sales Stats. Thanks, Barry & Kim ☘”
"Your Real Estate Concierge" If you are looking for a REALTOR® or one-stop Real Estate Team who will fully communicate; promptly, professionally, and in detail with you, to efficiently help you wit....
Latest Blog Posts
The pandemic is causing some to reevaluate what they want in a home. Now more than ever, your clients are focusing on yard space and gardens.Time to Watch Clients’ Gardens GrowAfter being
The 30-year fixed-rate mortgage averaged 3.07% this week, the lowest ever recorded by Freddie Mac since it began tracking such data in 1971.“Mortgage rates continue to slowly drift downward,
The seventh edition of this unique report analyzes the status of the world’s billionaire population, a modest number of individuals who hold immense wealth and significant influence over the