Mortgage Interest Rates Are the Lowest They Have Been in 11 Months
Graph source: Freddie Mac
Interest rates recently dropped again significantly, and they are now the lowest they have been in 11 months.
The reason for this has to do with the expectations of investors in the bond market, specifically the market of Mortgage Backed Securities (MBS) bonds. You can read more about the relationship between mortgage rates and Mortgage Backed Securities in this recent article.
The right time to buy depends on a number of factors beyond interest rates only, so it tends to look a bit different for everyone. But if you have been thinking about buying a home or doing a refinance, now may be a good opportunity to do so.
If you’d like to talk it over and see what the numbers could look like in your specific situation, please feel free to schedule a Free Brainstorming Consultation. I’d be happy to answer any questions you may have and brainstorm with you about how you could achieve your goals.
