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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: Interest Rates

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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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