Thursday, August 6, 2020

Mortgage Rates Hit all Time Lows! Again! A Historical 2.88% & 2.44% (National Avg.)

  • 30-year fixed loan Average for Rates, fell to 2.88%! 
  • 15-year fixed loan Average for Rates, fell to 2.44%!
  • The lowest in History (approximately 50 years)(of record keeping by Freddie Mac)!
  •  The 8th time that rates have dropped to a new low since the corona-virus started. 
Rates since 1971:
Most importantly:
  • This is only the national average.  Meaning that there are lenders out there that can beat that.  
  • Focus on Lenders that will give you the lowest tier of rates and closing costs.  
  • Don't deal with a lender that slaps you with excessive lender overlays above and beyond what the program/source calls for. 
  1. Here at Mason Mortgage Advisors we are a brokerage that works with over 20 different lenders, each with all their own individual programs.  We have a multitude of lending avenues for the borrower.  Get the rates, closing costs, and flexibility you deserve.  
  2. See what you qualify for by visiting here: http://applywithwooley.com/  Our team manager will greet you with a quick intro video. 
     

Bank of England Hold Interest Rates at 0.1%

  • "The Bank of England left interest rates and asset purchases unchanged and said it doesn’t plan to tighten policy until it’s more certain about the outlook for inflation."

Source:  https://youtu.be/pj5aGKc0FJs