Posts from October 3rd, 2020

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Lowest Mortgage Rates In History: What It Means for Homeowners & Buyers

October 3rd, 2020 by Coldwell Banker Tomlinson

In July, the average 30-year fixed-rate mortgage fell below 3% for the first time in history.¹ And while many have rushed to take advantage of this unprecedented opportunity, others question the hype. Are today's rates truly a bargain?

While average mortgage rates have drifted between 4% and 5% in recent years, they haven't always been so low. Freddie Mac began tracking 30-year mortgage rates in 1971. At that time, the national average was 7.31%.² As the rate of inflation started to rise in the mid-1970s, mortgage rates surged. It's hard to imagine now, but the average...

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Categories: Buying A Home

Tags: For sellers, For Buyers

Posts from October 3rd, 2020

Lowest Mortgage Rates In History: What It Means for Homeowners & Buyers

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