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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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"Couldn’t have asked for a better Realtor!! Russ was very friendly and professional, very knowledgeable, great at negotiating and had a great strategy for everything. He kept us up to date and did all the heavy lifting for us. He took the time to find houses that matched our needs, took care of setting up our inspections and handled any issues that came up during the process. Russ made the house buying process smooth and stress free. Really can’t say enough good things about Russ. We had zero complaints. We definitely recommend using Russ as your Realtor. "
- J.M., Tucson 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
"Excellent service, he sold the house in 2 days. I will definitely recommend him. He’s so easy to work with and very knowledgeable of the area. "
- D.K., Green Valley AZ
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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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