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

Welcome! This blog tracks the real estate market in the Central Shenandoah Valley, featuring market data and analysis, an exploration of common buying and selling questions, and candid commentary on all things real estate.

If you are interested in discussing any of the topics on this blog, or the details of your specific real estate situation, call or e-mail me!

Newer Post

home

Older Post


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: Area Wide Sale On Houses On Day After Thanksgiving! As A Home Seller, You Are Always Optimizing For Something Increasing Home Sales Despite Declining Inventory Levels Homes Usually Go Under Contract More Slowly In The Winter, But Maybe Not This Year? It Is Hard For Home Buyers To Compete If They Have A Small Downpayment Or If They Need Closing Cost Assistance Make A Decision About A Home Warranty Purchase After Your Home Inspection How High Will You Go When Competing With Other Buyers? Overbrook Subdivision in McGaheysville, Virginia Slated to Expand To A Total of 230 Homes Median Sales Price Increases $23,000. Monthly Payment Increases $3. Wait! What??
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 Nov 25, 2020 (unless otherwise noted).
Comments (0) or Subscribe