MarketWatch reports that mortgage rates have fallen with a 30-year fixed-rate mortgage averaging 3.13%. This is a new all-time low for the fourth time this year, and it is getting the interest of home shoppers.
The average 30-year fixed mortgage interest rates fell to 3.15% from 3.24% the previous week setting a new record low for the third time in the past three months.
When thinking about purchasing a home, having a crystal ball on what the housing market may do would surely be helpful, and The Street has prepared the next best thing with its 2020 U.S. Real Estate Predictions.
Maybe a new home is on Millennial's holiday wish list as experts predict that younger adults will continue to house hunt during the holidays and new year, which typically slows in colder months.
In spite of a four-week run where mortgage interest rates have been below 3.6%, the 30-year fixed-rate mortgage bumped up an average 0.5 point last week to an average of 3.49%.
The 4% mortgage is back! The average rate on a 30-year fixed rate mortgage was down nearly a quarter point this week from a week earlier, its biggest drop in over a decade. Mortgage rates are fast approaching 4%, low enough to help the housing market rebound as the spring season approaches.
With spring selling season about to kick off, lower rates will restore buying power to potential home buyers and counteract continued home price increases and economic uncertainty.
