Mortgage Interest Rates Will Never Be This Low Again, I Said Countless Times In Recent Years

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Mortgage Interest Rates Will Never Be This Low Again, I Said Countless Times In Recent Years
By Scott Rogers • November 12, 2020 Filed In: buying, financing, news, opportunity
I've been in this business for 17 years now. When I started, mortgage interest rates were right around 6%, which was amazing, given that they had been up above 8% just three years prior. But then, after major housing market adjustments in 2007 and 2008, mortgage interest rates started dropping. They kept on going down until they were just below 4% in 2012. This was, again, amazing! We then actually saw some ups and downs between 2012 and 2018 -- though rates generally stayed between 3.5% and 4.5%. And where do we find ourselves now? Below 3%! Again, amazing! Current average interest rates are 2.78% -- and I have had clients buy homes this year with fixed rate mortgages as low as 2.5%. If you happen to be buying a home (or investment property) right now you are going to greatly enjoy the low rates that you will be able to lock in for years to come! Receive updates from HarrisonburgHousingToday.com via e-mail: Enter your e-mail address: Recent Articles: Is It Dangerous To Pay Too Much For A House? 337 Homes To Be Built On Pleasant Valley Road Site Plan and Renderings For Boyers Crossing, Proposed Mixed Use Development Mixed Use Developments in Rockingham County, Looking Around and Looking Forward Getting Ready To Sell? Focus On Neighborhood Sales Prices First! Who Is Winning In The Local Real Estate Market? Why Did So Many Homes Sell In Our Area In 2020? As A Home Buyer, You Have Never Had Fewer Options How Quickly Are Homes Going Under Contract? Home Sales Up, Prices Up, Inventory Down in January 2021
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Mar 02, 2021 (unless otherwise noted).
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