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Mortgage Rates Just Hit Another Record Low!

Monday, May 18, 2020   /   by Teresa Dipeso

Mortgage Rates Just Hit Another Record Low!

Thinking about buying a new home? Now may be the time!  The average rate on the popular 30-year fixed mortgage just fell to 3.09%, a record low, according to Mortgage News Daily.

Mortgage rates are not an exact science, so there are some lenders now even lower, offering 3% and even 2.75%-2.875% for perfect scenarios. There are also lenders remaining at higher rates. 

Low mortgage rates are contributing to a faster-than-expected recovery in home buyer demand. As states restart, buyers are heading back to open houses. Others are stepping up their virtual shopping. Both real estate agents as well as home builders have reported higher interest from buyers in just the last two or three weeks.

Ready to start shopping for your new home? It's important to get pre-qualified with a lender who can assess your financial position. If you're not sure where to start, call us. We can recommend mortgage representatives  with the experience and knowledge you need to navigate the purchase process.  


Courtesy CNBC

Teresa M DiPeso & The DiPeso Group Jersey Shore Real Estate Experts
Teresa M. DiPeso
Long & Foster
Avalon/Stone Harbor/Cape May/Sea Isle/Wildwoods, NJ 08202
609-780-1434

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity program of the Cape May County Multiple Listing Service. Real estate listings held by brokerage are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity program of the South Jersey Shore Regional MLS. Real estate listings held by brokerage are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.
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