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John Corten
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Mortgage Rates Hit Another ANOTHER Historic Low

Sorry to report a week late on this folks, but last week I was incredibly busy showing houses to buyers trying to take advantage of 3.56% mortgage rates. Yep, 30-year rates hit 3.56%. And this week they are up to a whopping 3.62% so far. Quick perspective check: The average rate in July 1982 was over 15%.

No one truly know when rates are going to jump back up since they are tied to a number of factors, including some not directly linked to real estate at all like interest rates on Treasury securities. But what I do know is that housing affordability is still historically low. I sound like a broken record here, but if you’ve been thinking about buying or refinancing, this is the time…

 

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