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Interest Rate Update...

By Doug Dawes

Real Estate Agent with Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA 92593-B

October 08, 2020 05:10 PM

Can Interest Rates be lower? Who knows? I didn't think they'd be this low. One of my clients just refinanced at 2.75% fixed 30 years. BUYERS do not procrastinate! Now to get inventory numbers up. SELLERS. we know you are out there...lol

Mortgage Market Report
for the week ending on October 8, 2020

Average weekly rate data as provided by the Freddie Mac Primary Mortgage Market Survey®

10/08/20 (most recent)	Trending	Average Rate	Points & Fees	Margin
30-Year Fixed Rate	▼ down	2.87%	0.8	N/A
15-Year Fixed Rate	▲ up	2.37%	0.7	N/A
5/1-Year ARM	▼ down	2.89%	0.2	2.75

10/01/20 (previous week)	Average Rate	Points & Fees	Margin
30-Year Fixed Rate	2.88%	0.8	N/A
15-Year Fixed Rate	2.36%	0.7	N/A
5/1-Year ARM	2.90%	0.2	2.75

The data presented above are the exact published results of Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) and are provided for informational purposes only. The data are not rate quotes and are not intended as an advertisement of interest rates as defined by Regulation Z, Section 1026.2.

Mortgage Rates Remain Flat

“The year-long slide in mortgage rates seems to be ending as rates have flattened over the last month and the economic rebound has slowed. But with near record-low rates, buyer demand remains robust with strong first-time buyers coming into the market. The demand is particularly strong in more affordable regions of the country such as the Midwest, where home prices are accelerating at the highest rates over the last two decades.”

– Sam Khater, Chief Economist, Freddie Mac

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Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI

HomeSmart Real Estate - Scottsdale, AZ

Arizona Homes and Land Group/ Buy or Sell

Roger that Doug Dawes ! How Low Can They Go! It is sure nice while it lasts. Jeff

Oct 08, 2020 10:17 PM

Doug Dawes

Topsfield, MA

Endre Barath, Jr.

Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA

Realtor - Los Angeles Home Sales 310.486.1002

Great message Doug call me the contrary, I would not let Diane refinance... I told her to keep pushing down the Principal... and then we will be debt free, Endre

Oct 08, 2020 11:12 PM

Grant Schneider

Performance Development Strategies - Armonk, NY

Your Coach Helping You Create Successful Outcomes

Good morning Doug Dawes - these rates continue to amaze. Buyers need to have a strategy, however, in this market of low inventory.

Oct 09, 2020 03:45 AM

Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

Doug, I closed a buyer last Thursday and one closes today, they both got 2.625%. This is AMAZING! Did not think they would ever get this low.

Oct 09, 2020 04:45 AM

Wayne Martin

Wayne M Martin - Oswego, IL

Real Estate Broker - Retired

God morning Doug. These artificially low rates may stay down for the near future. Enjoy your day!

Oct 09, 2020 05:09 AM

Doug Dawes

Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA

Your Personal Realtor®

Good Morning Wayne Martin I think for the near future and possibly another year or so

Oct 09, 2020 07:09 AM

Good Morning Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI It sure is, but for how long no one knows. Enjoy it while it lasts

Oct 09, 2020 07:10 AM

Pam & I refinanced by decreasing from 30 years to 25 then 25 years to 20 all-the-while making additional principal payments when we could Endre Barath, Jr.

Oct 09, 2020 07:13 AM

Good Morning Grant Schneider

A good plan is more important than ever these days

Oct 09, 2020 07:14 AM

It really is amazing Joan Cox Congrats to your client. They must have been stoked!

Oct 09, 2020 07:15 AM

Joan Cox

Denver, CO

Interest Rate Update...

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