Friday, October 23, 2020
APPLY NOW PURCHASE REFINANCE CONSOLIDATE DEBT HOME EQUITY LOAN
 
Need some extra cash?
Apply for a home equity loan, and get the money to cover those last minute expenses.
 

Rates Drop to Another Record Low

Mortgage News > Rates Drop to Another Record Low
Date: 09/10/2020    Rates Drop to Another Record Low

Interest rates on 30-year fixed-rate mortgages fell to their lowest rate ever today, based on a 49-year Freddie Mac mortgage survey. The average rate on the traditional long-term home loan sank to 2.86% with an average 0.8 point, down from 2.93% last week and 3.56% a year ago. Freddie Mac economist Sam Khater said the drop in rates was due to a “late summer slowdown in the economic recovery.” While lower rates have encouraged more purchase activity, he believes it may be difficult to sustain the growth with such limited inventory.

back