Mortgage Rates Sink to their Lowest Levels in 21 Months After 6 Weeks of Decline
In November, mortgage rates appeared ready to soar across the 5 percent threshold. Seven months later, concerns over trade and global growth have driven them below 4 percent.
According to the latest data released Thursday (6/6) by Freddie Mac, the 30-year fixed-rate average sank to 3.82 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan amount and are in addition to the interest rate.) It was 3.99 percent a week ago, and 4.54 percent a year ago. The 30-year fixed rate fell for the sixth week in a row and hasn’t been this low since September 2017.
Freddie Mac recently released a report entitled, “Perceptions of Down Payment Consumer Research.”Their research revealed that, For many prospective homebuyers, saving for a down payment is the largest barrier to achieving the goal of homeownership. Part of the challenge for those planning to purchase a home is their perception of how much they will need to save for the down payment…
…Based on our recent survey of individuals planning to purchase a home in the next three years, nearly a third think they need to put more than 20% down.”
Beautiful 3 bedroom, 4 bath home that has been meticulously cared for by 1 owner. This home features an open floor plan, hardwood floors, vaulted ceilings, multiple living spaces in addition to the formal dining area, a gas fireplace, granite counters in the kitchen with a large island and main level study. Outdoor you will find established landscaping and a large covered back deck perfect for entertaining! Many neighborhood amenities including a pool and easy access to I25 for commuting!
Keep up to date with Front Range Market Trends, Community Events, Contest/Giveaways and More!
All data is based on information from IRES inc, METROLIST inc, DBA RECOLORADO® and Matrix v7.1. CoreLogic. Data reflected includes attached dwellings in each cities market. The Terrell Davis Group does not provide any guarantee and is not responsible for accuracy. Data maintained by IRES inc. and METROLIST inc. may not reflect all real estate activity in the market.