{"id":18431,"date":"2021-02-02T13:21:40","date_gmt":"2021-02-02T13:21:40","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=18431"},"modified":"2021-02-02T13:21:40","modified_gmt":"2021-02-02T13:21:40","slug":"30-year-rates-inch-back-down-this-week","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/30-year-rates-inch-back-down-this-week\/","title":{"rendered":"30-Year Rates Inch Back Down This Week"},"content":{"rendered":"

30-Year Rates Inch Back Down This Week<\/h1>\n
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Mortgage rates headed back down this week, continuing to hover near all-time lows. \u201cAs the market reacts to a new administration in Washington and COVID-19-driven economic malaise, mortgage rates continued to decrease this week, just slightly,\u201d said Sam Khater, Freddie Mac\u2019s chief economist.<\/p>\n

Also, the Federal Reserve announced this week that it will leave both interest rates and its bond-buying program unchanged, both actions likely helping to keep mortgage rates low.<\/p>\n

The low rates continue to attract home buyers. Home sales in 2020 rose to the highest level in 14 years, according to the National Association of REALTORS\u00ae\u2019 latest housing report. Demand is surging for a shrinking number of homes for sale.<\/p>\n

\u201cEven as house prices increase at the fastest rate we\u2019ve seen in years, competition to buy is strong given the low inventory that exists across the country,\u201d Khater said. \u201cThe fact that there are not enough homes to meet demand is going to be an ongoing issue for the foreseeable future.\u201d<\/p>\n

NAR is forecasting existing-home sales to rise more than 10% in 2021.<\/p>\n

Freddie Mac reports the following national averages with mortgage rates for the week ending Jan. 28:<\/p>\n