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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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"Russ was very good to work with, patient with questions and showed me a number of properties. Russ was not pushy, always polite and showed me properties that fit with what I was looking for. It was a pleasure to work with Russ."
- J.K., Green Valley AZ
"It’s hard to know where to start. Russ walked on water for us. He must memorize every listing the morning it lists. He knew exactly what we wanted and found our perfect house the morning it came on the market. We came from northern Washington and had already checked several other communities before deciding on this area, and Russ refined our search to meet our needs. Russ was prompt, quick to respond to our phone calls, always kept us in the loop, and just a pleasure to work with. He was on top of every detail and brought us to closing a day early. Yay Russ!"
- C. C., Sahuarita AZ
"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
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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
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