9/12/2020   Blog Home   Contact

Mortgage Rates Did It Again: Another Record Low

John McClintock Team

Just as some housing experts were predicting rates couldn’t get lower, they did. The 30-year fixed-rate mortgage reached a new all-time low, averaging 2.86% this week, according to Freddie Mac. “Mortgage rates have hit another record low due to a late-summer slowdown in the economic recovery,” says Sam Khater, Freddie Mac’s chief economist. “These low rates have ignited robust purchase demand activity, which has been growing at double-digit rates for four consecutive months. However, heading into the fall, it will be difficult to sustain the growth momentum in purchases because the lack of supply is already exhibiting a constraint on sales activity.”

Freddie Mac reports the following national averages with mortgage rates for the week ending Sept. 20:

Source: National Association of Realtors, Realtor Magazine.

Considering selling your Bucks County home?
Before you list your home for sale, call the John McClintock Team at 267‑759‑9518 for no obligation recommendations on pricing and an overview of our comprehensive marketing package that includes, home staging, brokers' open house, virtual tour, video tour and social media sharing.

john mcclintock team

Information is deemed reliable but not guaranteed.