Low-Interest Rates on Mortgages likely to continue for 2021

Dated: February 25 2021

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Record low interest Rates on Mortgages

Anytime you borrow money there’s a cost for the privilege. That’s no different for mortgage loans, which you rely on during the home buying process.

This year we are seeing historically low-interest rates become even more historic.

The 30-year fixed-rate mortgage interest rate set a new record at 2.65% last month and continues to be near 50-year lows. We are well below the average 30-year fixed annual rates and will likely continue to be for the rest of 2021.  Freddie Mac's forecast mortgage interest rates will around 2.9% through the end of 2021. 

 Homebuyers Shocked by How Much Home They Can Afford

 Many first-time home buyers are shocked by how much home they can afford. According to a survey from realtor.com®, of 1,000 prospective and recent first-time home buyers. More than two-thirds of survey respondents say they are surprised at what they can afford; 47% say their budget is larger than they thought it would be. The reason is low-interest rates  are helping first-time buyers stretch their housing budgets more than they thought they could, 

Looking to purchase a new home, or if you already have a home and want to buy another check out our Home Swap program.

Mortgage Rate Trends APR
Mortgage Rate Trends APR

Such low percentages have intensified high demand in the residential real estate market. Prospective homebuyers are eager to buy homes.  Existing homeowners are eager to refinance their current mortgages to save money on their monthly payments. Simultaneously, median home sale prices continue to spike and set new records of their own. Found out how much your total monthly mortgage payment will be.  This is a historic opportunity to potentially save thousands on your mortgage 

Contact us today and we can help with your home search. 

TheGiffordGroup.net - "Opening Doors To New Beginnings"

#lowrate #mortgages 

 The Average 30 Year interest rates from 2008-2019  

Bankrate Average annual 30-year fixed Mortgage

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Amber Odle

Amber’s love for real estate comes naturally. She utilizes her creativity to tell a story of what could be by providing her clients the vision through their own eyes. “I’ve always loved creating....

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