Thinking of buying a home? If you stopped looking or have paused your efforts, it’s time to restart!
According to Freddie Mac, mortgage rates have dropped to an all-time low since the company started tracking them. The current average mortgage rate stands at 3.23%, which is a drop of almost one percent from this time last year.
For buyers, this is great news—and for sellers, too.
While some economists at Fannie Mae predict that rates could drop further, that’s not guaranteed. It’s a good idea to lock in the current low rates. Plus, because it remains a seller’s market, if you see a home you love, you need to act immediately. Otherwise, someone else will quickly nab it.
You can read more about this amazing low at Florida Realtors.