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You are here: Home / Blog / Market Trends

Stop waiting! Mortgage rates unlikely to go any lower

September 12, 2020

Mortgage rates have continued to drop in recent months, hitting new all-time lows seemingly every week. And while the average interest rate for a 30-year fixed rate mortgage dropped below 3 percent for much of August and into September, the consistent downward trend could have buyers holding out, waiting for rates to drop even lower. But according to Freddie Mac, mortgage rates are unlikely to drop much further.

“There are some interesting compositional shifts as the 10-year Treasury rate has increased modestly over the past month while mortgage spreads have declined,” says Sam Khater, Freddie Mac’s Chief Economist. “Spreads may decline even further but the rise in Treasury rates will make it difficult for mortgage rates to fall much more over the next few weeks.”

If you’ve been holding off on buying a home in hopes that mortgage rates will drop even lower, it looks like that’s unlikely — so now is a great time to make a move and lock in a mortgage at these historically low rates.

Filed Under: Market Trends Tagged With: Mortgage Interest Rates

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"Anytime, anywhere, he was there, always going the extra mile. He even came to the house and watered trees so they would not die — more then once. He’s what you call real professional, a 10.5 on a 10 scale. I was out of town when the house was listed so he went to the house and did a video. I didn’t see a dishwasher, he said “yes it was there.” That was good enough for me, but he went to house and took picture to show me. He kept me informed every step of the process, and followed-up to ask if I had any questions."
- G.M., Sandpoint ID
"Russ Fortuno is an exceptional real estate professional. He is personable, responsive and really knows the Green Valley real estate market. Additionally, Russ is a strong buyer’s advocate, good listener and business professional. He gave his honest opinion on places and did not push in any way. Living in Northern California, we required an agent who has a spectrum of knowledge about Green Valley as well as being able to navigate a transaction via long distance. Trust is key in all real estate business but really was crucial with our purchase. Russ showed us many properties prior to COVID, we ended up putting an offer on a property that we didn’t see until the inspection was completed. Having trust in Russ made our long distance home purchase possible. It was a little scary doing business this way but I can say that we are very happy with our condominium and Russ made such a purchase smooth and a relatively easy process. I whole heartedly recommend Russ to anyone seeking real estate in the Green Valley area, we will use Russ for all our future Green Valley real estate business."
- S.M., Redding CA
"My experience with Russ selling my mom’s house for us was great. I’m in northern Idaho and he dealt with everything for me with out me having to go to Green Valley. I feel he went above and beyond the call of duty. I not only recommend him, I am going to use him to sell mom’s other house. THANKS, Russ."
- B.M., Bonners Ferry ID
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Russ Fortuno, Associate Broker

I'm a Southern Arizona native and year-round Green Valley resident. Whether you’re buying or selling a home in the Green Valley or Sahuarita area, you’ll experience unsurpassed service and professionalism at all stages of your real estate transaction. I welcome the opportunity to assist in your next home sale or purchase.
Meet Russ

Tierra Antigua Realty

18745 S. I-19 Frontage Rd., Ste. A105
Green Valley, AZ 85614
(520) 333-0446
Contact Russ

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