{"id":1815,"date":"2020-07-16T17:48:31","date_gmt":"2020-07-16T21:48:31","guid":{"rendered":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/?p=1815"},"modified":"2020-07-16T17:48:31","modified_gmt":"2020-07-16T21:48:31","slug":"a-new-mortgage-interest-rate-record","status":"publish","type":"post","link":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/2020\/07\/16\/a-new-mortgage-interest-rate-record\/","title":{"rendered":"A New Mortgage Interest Rate Record"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-content\/uploads\/2020\/07\/July1620-Home-Pic-1024x683.jpg\" alt=\"\" class=\"wp-image-1816\" srcset=\"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-content\/uploads\/2020\/07\/July1620-Home-Pic-1024x683.jpg 1024w, https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-content\/uploads\/2020\/07\/July1620-Home-Pic-300x200.jpg 300w, https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-content\/uploads\/2020\/07\/July1620-Home-Pic-768x512.jpg 768w, https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-content\/uploads\/2020\/07\/July1620-Home-Pic-1200x800.jpg 1200w, https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-content\/uploads\/2020\/07\/July1620-Home-Pic.jpg 1500w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Mortgage interest rates fell below 3% for the first time ever. The average 30-year fixed-rate mortgage fell to a record low of 2.98% this past week, according to Freddie Mac. That is the lowest level in the nearly 50 years of the mortgage giant&#8217;s survey.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>The average interest rate for a 30-year-fixed mortgage dropped below last week&#8217;s record low of 3.03% and marks the 7th new low since March. These record-low rates have led to increased demand among homebuyers, which is helping to offset the lack of demand due to the uncertainty around the Pandemic.<\/p>\n\n\n\n<p>Concerns about the economy have helped to push mortgage rates lower over the past few weeks. Meanwhile, the opportunity created by lower mortgage rates is driving up home buying traffic and stabilizing home prices.<\/p>\n\n\n\n<p>It is hard to believe that the long-term average mortgage interest rate is about 8%. At today\u2019s rates, home buyers are saving over $500 per month for every $100,000 borrowed versus long-term averages.<\/p>\n\n\n\n<p>Taking it step further, today\u2019s rates are around 80 basis points lower than last year\u2019s average mortgage interest rates. That means today\u2019s home buyers are saving over $100 per month for every $100,000 borrowed versus the rates from just last year.<\/p>\n\n\n\n<p>Feel free to contact me if you have any questions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mortgage interest rates fell below 3% for the first time ever. The average 30-year fixed-rate mortgage fell to a record low of 2.98% this past week, according to Freddie Mac. That is the lowest level in the nearly 50 years of the mortgage giant&#8217;s survey.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,31,26,3,1],"tags":[9,16,14,15,20,19,17],"class_list":["post-1815","post","type-post","status-publish","format-standard","hentry","category-home-buying","category-home-prices","category-home-selling","category-mortgages","category-real-estate","tag-lakewood-ranch","tag-manatee-county","tag-mortgage","tag-real-estate","tag-real-estate-agent","tag-realtor","tag-sarasota-county"],"_links":{"self":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/1815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/comments?post=1815"}],"version-history":[{"count":1,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/1815\/revisions"}],"predecessor-version":[{"id":1817,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/1815\/revisions\/1817"}],"wp:attachment":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/media?parent=1815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/categories?post=1815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/tags?post=1815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}