What’s going on with mortgage rates?
Rates for home loans sank to their lowest level of the year this week as inflation remained stubbornly low and fears about a possible government shutdown mounted, mortgage provider Freddie Mac said Thursday.
The 30-year fixed-rate mortgage averaged 3.86% during the August 24 week, down three basis points to a nine-month low. The 15-year fixed-rate mortgage averaged 3.16%, unchanged during the week. The 5-year Treasury-indexed adjustable-rate mortgage averaged 3.17%, up one basis point.
And look again at this amazing graph!
This can’t last forever so take advantage of it. LOW rates mean MORE buying power.