Mortgage Rates Dropping Due to COVID-19 Crisis

Mortgage Rates Dropping Due to COVID-19 Crisis

Mortgage interest rates have hit rock bottom due tothe covid-19 economy, creating great opportunities point threea fifteen year fixed and just to kind of put that into perspective eighteen months ago if you were gonna be financing.

Two hundred fifty thousand dollars.

Today payment that would with that payment to date you would be able to finance that same house for three hundred twenty two thousand so you gotta.

Spread in the ability of affordability.

Of what's going on with your with your purchase.

Traits hold during the election year now obviously this is a pandemic and nobody's ever seen any of this happened before and that's actually the calls with some of these rates are coming and it's been still.

The economy that way but we should be able to see at least through the end of the year.

Possibly the beginning at the acts that we.

Should see rates this low so.

Compared to this time last month that we got a few days left that's going on.

Through the end of the month.

The busiest time of the spots.

But the leading into the first one is the new homes coming onto the market think about the sign that's going into the yard.

That's down 3% so the supply is slightly down the next indicator is the homes that are coming off the market that's when a buyer and a seller have a meeting of the minds of christ terms eccentrics.

That's up for the third month in a row over 50% so we're seeing a shrink of inventory.

The fewer homes coming off the market and rapid homes coming off the market so things are coming off that was going to lead over the next sixty to ninety days.

Great news.

For the eight day.

Market.

Choose from.

People are getting a little bit about you a little bit of a window now to be a cell where is it.

You know seven eight months ago.

It was a little bit tighter so that doesn't mean that people can jump and get greedy.

They they're- you know buyers are still getting a little bit finicky when it comes to that but the margins are a little