These are the Lowest Rates We’ve Seen in the Last 50 Years
Not everyone will be able to take advantage of today’s historically low mortgage rates, due to the pandemic-slowed economy, but for those lucky enough to have jobs that are still deemed “essential” and who’ve had the ability to continually earn their regular income, there is an incredible opportunity for you. One that may not be seen again for a while.
Currently, the 30-year fixed-rate mortgage is 3.23% – down a whopping 0.91% from this time last year.
(That’s almost one whole percent… which means A LOT of savings.)
Since 1971, which is when Freddie Mac started tracking interest rates, we haven’t seen rates this low.
It could be that rates continue to decrease in 2021, as economists at Freddie Mae predict, but it’s difficult to determine long-term outcomes of COVID-19.
What we definitely know right now, however, is that rates are stupendously low at this moment and those who seize the moment (and the market) will thank themselves in the future.
Oh! And… Happy Cinco de Mayo!
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