There’s never been a housing market quite like this before. While the market has, in fact, begun to cool off just a little, it’s still a challenging time to buy due to supply and demand. Luckily, buyers are able to offset higher prices by taking advantage of all-time low mortgage interest rates which lower monthly housing payments. Just a quarter-point of interest rate movement can make a big difference. Mid-September, average mortgage rates were 2.86% for 30-year fixed loans, according to Freddie Mac. Before COVID-19, interest rates had never dropped below 3%. Is this the new normal? Read more…
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