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Buy Or Sell With James Jestes and eXp Realty

386 315 4744
James@JamesJestes.com

Serving The Greater Daytona Beach Area

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Mortgage Rates Hit Record Lows for Three Consecutive Weeks

Mortgage Rates Hit Record Lows for Three Consecutive Weeks | Simplifying The Market

Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down to 3.03%. Last week’s reported rate reached the lowest point in the history of the survey, which dates back to 1971 (See graph below):
Mortgage Rates Hit Record Lows for Three Consecutive Weeks | Simplifying The Market

What does this mean for buyers?

This is huge for homebuyers. Those currently taking advantage of the increasing affordability that comes with historically low interest rates are winning big. According to Sam Khater, Chief Economist at Freddie Mac:

“The summer is heating up as record low mortgage rates continue to spur homebuyer demand.”

In addition, move.com notes:

“Summer home buying season is off to a roaring start. As buyers flooded into the market, realtor.com® monthly traffic hit an all-time high of 86 million unique users in June 2020, breaking May’s record of 85 million unique users. Realtor.com® daily traffic also hit its highest level ever of 7 million unique users on June 25, signaling that despite the global pandemic buyers are ready to make a purchase.”

Clearly, buyers are capitalizing on today’s low rates. As shown in the chart below, the average monthly mortgage payment decreases significantly when rates are as low as they are today.Mortgage Rates Hit Record Lows for Three Consecutive Weeks | Simplifying The MarketA lower monthly payment means savings that can add up significantly over the life of a home loan. It also means that qualified buyers may be able to purchase more home for their money. Maybe that’s a bigger home than what they’d be able to afford at a higher rate, an increasingly desirable option considering the amount of time families are now spending at home given today’s health crisis.

Bottom Line

If you’re in a position to buy a home this year, let’s connect to initiate the process while mortgage rates are historically low.

GIVE ME A CALL AND LETS TALK ABOUT YOUR REAL ESTATE NEEDS – JAMES JESTES 386-315-4744

Most Recent MLS Listings Today

580 Rio Vista Avenue Daytona Beach FL 32114
Featured
1 / 69
$799,000
3
BEDS
2
TOTAL BATHS
1,841
SQFT
580 Rio Vista Avenue Daytona Beach, FL 32114
Single Family Residence For Sale
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Embrace the ultimate waterfront lifestyle in this stunning riverfront retreat, offering breathtaking views, deep-water access, and a private dock with a brand-new boat lift. This 3-bed, 2-bath, 1,841 sq. ft. home sits on 100 ft of deep water frontage

Listing courtesy of James Jestes of EXP Realty LLC
105 S Spoonbill Drive Palm Coast FL 32164
New Listing - 19 minutes on site
1 / 34
$499,900
3
BEDS
2
TOTAL BATHS
2,257
SQFT
105 S Spoonbill Drive Palm Coast, FL 32164
Single Family Residence For Sale
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Discover an unparalleled opportunity for an exceptional Florida lifestyle at 105 South Spoonbill Drive, nestled within the desirable gated community of Grand Landings! This meticulously maintained home offers not only serene lake views from its expan

Listing courtesy of Megan Hedrick of Mark Spain Real Estate
73 Bridle Ridge Court Flagler Beach FL 32136
New Listing - 19 minutes on site
1 / 12
$1,100,000
4
BEDS
3
TOTAL BATHS
2,784
SQFT
73 Bridle Ridge Court Flagler Beach, FL 32136
Single Family Residence For Sale
- Active

One or more photo(s) has been virtually staged. Under Construction. AMAZING CUSTOM CONSTRUCTION IN THE GATED COMMUNITY OF THE POLO CLUB OF FLAGLER BEACH, BY SIGNATURE ONE HOMES. 4035 sq ft of Custom, under roof construction on over an acre of prime l

Listing courtesy of Ezra Marcus of Ezra Marcus, Broker
1411 N Beach Street Ormond Beach FL 32174
New Listing - 39 minutes on site
1 / 51
$419,900
3
BEDS
2
TOTAL BATHS
2,021
SQFT
1411 N Beach Street Ormond Beach, FL 32174
Single Family Residence For Sale
- Active

Step into timeless charm with this spacious 3-bedroom, 2-bath home offering over 2,000 square feet of living space. Built in 1979, this well-maintained residence is full of unique vintage style and character you won't find in newer builds. The roof

Listing courtesy of Kelly Ferguson of Simply Real Estate

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Related posts:

  1. Interest Rates Hover Near Historic All-Time Lows [INFOGRAPHIC]
  2. How Interest Rates Can Impact Your Monthly Housing Payments
  3. Are Low Interest Rates Here to Stay?
  4. Why Is So Much Paperwork Required to Get a Mortgage?

Posted in: Blog, First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers

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James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

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BUY AND SELL REAL ESTATE WITH JAMES JESTES

James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

FEATURED LISTINGS

No Results Found.

SEARCH ALL OF THE GREATER DAYTONA BEACH AREA

Price

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Today’s Real Estate Information

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James Jestes, Your new favorite Realtor.

Hello my name is James Jestes and I am a Broker Associate with eXp Realty.  I am dedicated to helping you find your perfect new home. I’m a no hassle, no pressure agent here to help you accomplish your real estate goals. Please reach out to me and let me know how I can help you purchase or sell your home.

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Contact James Today

James Jestes
eXp Realty
386-315-4744
James@JamesJestes.com

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