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Real Estate Market:

30-Year Mortgage Rate Reaches Lowest Level Ever: 2.98%

The average rate on a 30-year fixed mortgage fell to its lowest level in almost 50 years of record keeping. In a year of financial firsts, this one stands out: Mortgage rates have fallen below the 3% mark. It is the third consecutive week and the seventh time this year that rates on America’s most popular home loan have hit a fresh low.

Source: The Wall Street Journal July 17, 2020 – Print Edition

Hugo’s Opinion; The bottom line:
The current low rate environment is like nothing we’ve ever seen before. It’s easy to tune out the constant advertisements and news stories about “all-time low rates,” but this time around, the refinance process is very much worth investigating right now.

Hugo Barragan, MSIRE



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