Are Low Interest Rates Here to Stay?

Are Low Interest Rates Here to Stay?
Are Low Interest Rates Here to Stay? | MyKCM

Interest rates for a 30-year fixed rate mortgage have been onthe decline since November, now reaching lows last seen in January2018. According to FreddieMac’s latest PrimaryMortgage Market Survey, rates came in at4.12% last week!

This is great news for anyone who is planning on buying a homethis spring! Freddie Mac had this to say,

“Mortgage interest rates have been steadily decliningsince the start of 2019. These lower mortgage interest ratescombined with a strong labor market should attract prospectivehomebuyers this spring and could help the housing sector regain itsmomentum later in the year.”

To put the low rates in perspective, the average for 2018 was4.6%! The chart below shows the recent drop, and also shows wherethe experts at Freddie Mac believe rates will beby the end of 2019.

Are Low Interest Rates Here to Stay? | MyKCM

Bottom Line

If you plan on buying a home this year, let’s get togetherto start your home search to ensure you can lock in thesehistorically low rates today!

Interest Rates