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


Mortgage Interest Rates Will Never Be This Low Again, I Said Countless Times In Recent Years
By Scott Rogers • November 12, 2020
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 by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
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 21, 2024 (unless otherwise noted).
Comments (0) or Subscribe