{"id":17991,"date":"2020-10-27T11:47:42","date_gmt":"2020-10-27T11:47:42","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=17991"},"modified":"2020-10-27T11:47:42","modified_gmt":"2020-10-27T11:47:42","slug":"mortgage-rates-hit-record-low-again","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/mortgage-rates-hit-record-low-again\/","title":{"rendered":"Mortgage Rates Hit Record Low\u2014Again"},"content":{"rendered":"

Mortgage Rates Hit Record Low\u2014Again<\/h1>\n
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\"Mortgage<\/div>\n<\/div>\n<\/div>\n

\u00a9 REALTOR\u00ae MAGAZINE<\/p>

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The 30-year fixed-rate mortgage hit its 11th record of the year this week, averaging 2.80%\u2014the lowest rate ever recorded by Freddie Mac.<\/p>\n

\u201cMortgage rates remain very low, providing homeowners who have not already taken advantage of this environment ample opportunity to do so,\u201d says Sam Khater, Freddie Mac\u2019s chief economist. \u201cMortgage rates today are on average more than a full percentage point lower than rates over the last five years. This means that most low- and moderate-income borrowers who purchased during the last few years stand to benefit by exploring refinancing to lower their monthly payment.\u201d<\/p>\n

The low loan rates are fueling a hot housing market as buyers rush to lock in the rates. In September, existing-home sales jumped 21% compared to a year ago<\/a>, the National Association of REALTORS\u00ae reported this week.<\/p>\n

Freddie Mac reports the following national averages for mortgage rates for the week ending Oct. 22:<\/p>\n