Today's Mortgage Rates: An Advantage to Home Buyers
“As the economy works to get back to its pre-pandemic self, and the fight against COVID-19 variants unfolds, owners and buyers continue to benefit from some of the lowest mortgage rates of all time.”
- Sam Khater, Chief Economist at Freddie Mac
As the mortgage rates hover near record lows today, real estate experts encourage home buyers to take advantage of it before the forecasted rise in the coming months.
When mortgage rates are low, homes become more affordable. It gives you the opportunity and flexibility in what you can afford, which is why it is best to take advantage of it now because even small increases in mortgage rates can have a big impact on what you pay each month.
“Those who haven’t yet taken advantage of low rates to buy a home or refinance still have the opportunity to do so this summer.... We expect mortgage rates to fluctuate near historic lows through the summer before beginning to climb this fall.”
- Danielle Hale, Chief Economist at realtor.com