Mortgage Rates Drop Below Three Percent

May 27, 2021
Mortgage rates are down below three percent, continuing to offer many homeowners the potential to refinance and increase their monthly cash flow. In fact, homeowners who refinanced their 30-year fixed-rate mortgage in 2020 saved more than $2,800 dollars annually. Substantial opportunity continues to exist today, as nearly $2 trillion in conforming mortgages have the ability to refinance and reduce their interest rate by at least half a percentage point.

Information provided by Freddie Mac.

April Monthly Skinny Video

April was another strong month for home sales. The busy spring market continues to see many multiple offer situations driving sales prices above asking price.

January Monthly Skinny Video

A robust increase in housing starts in December points to an active year for new construction, but higher material costs, especially lumber, and a limited supply of buildable lots will temper the number of new units.

December Monthly Skinny Video

December is normally one of the slowest months of the year, but strong buyer demand across most segments of the market, buoyed by near record-low interest rates, continues to drive a healthy sales pace in the face of a new wave of COVID-19 infections and a softening job market.

November Monthly Skinny Video

Showing activity remains higher than the same period a year ago across most of the country, suggesting that strong buyer demand is likely to continue into what is typically the slowest time of year.

August Monthly Skinny Video

In August, showings and pending sales remained at strong levels while housing inventory remained limited, continuing the competitive bidding market we have seen in recent months.