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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
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$799,000
3
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2
TOTAL BATHS
1,841
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580 Rio Vista Avenue Daytona Beach, FL 32114
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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
1254 Royal Pointe Lane Ormond Beach FL 32174
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$675,000
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1254 Royal Pointe Lane Ormond Beach, FL 32174
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Nestled on a private cul-de-sac and backing to a serene preserve, this meticulously maintained home offers unmatched privacy, elegance, and modern convenience. From the moment you arrive, you'll be captivated by the gorgeous curb appeal and impressi

Listing courtesy of Listing Reciprocal of Nonmember office
336 Stirling Bridge Drive Ormond Beach FL 32174
New Listing - 3 hours on site
1 / 34
$850,000
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BEDS
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SQFT
336 Stirling Bridge Drive Ormond Beach, FL 32174
Single Family Residence For Sale
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Live the resort lifestyle at 336 Stirling Bridge Drive, nestled in the desired, 24-hour manned-gated golf community of Plantation Bay in Ormond Beach. Step inside to an open, light-filled layout designed for effortless living and entertaining. Triple

Listing courtesy of Timothy Harper of Redfin Corporation
238 Crooked Tree Trail DeLand FL 32724
New Listing - 3 hours on site
1 / 47
$520,000
3
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238 Crooked Tree Trail DeLand, FL 32724
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This one-of-a-kind custom-built Trails West home exudes European Tudor cottage style charm. Nestled on a sprawling half-acre corner lot in the highly sought-after North DeLands Trails West community, this home is surrounded by vibrant, mature landsca

Listing courtesy of Listing Reciprocal of Nonmember office

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

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