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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 helped us make our retirement dream a reality. We met Russ in July of 2018 when we made our first house hunting trip to Green Valley, AZ. He listened carefully to what we were looking for in a home and presented us with a list of houses that met our criteria. He helped us through two failed sales on our ou-of-state home, and when our home sold after five months on the market Russ was ready to help us with our home purchase in AZ. He stayed on top of all the important dates, provided us with a wealth of information about the area and links to all the required utilities. Moving is very stressful but Russ took a lot of the stress away with his commitment to quality customer service."
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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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