Low interest rate update--from Gary Simmens

Dated: 08/27/2020

Views: 55

RATES DOWN EVEN LOWER!

08/27/20
(most recent)

Average
Rate

Points
& Fees

Margin

 30-Year Fixed Rate

2.91%

0.8

N/A

 15-Year Fixed Rate

2.47%

0.7

N/A

 5/1-Year ARM

2.91%

0.2

2.75

08/20/20
(previous week)

Average
Rate

Points
& Fees

Margin

 30-Year Fixed Rate

2.99%

0.8

N/A

 15-Year Fixed Rate

2.54%

0.7

N/A

 5/1-Year ARM

2.91%

0.3

2.75

“This year has been anything but normal and as the uncertainty lingers, mortgage rates remain near record lows. These rates continue to incentivize potential buyers and the home buying season, which shifted from spring to summer, will likely continue into the fall.”

– Sam Khater, Chief Economist, Freddie Mac

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Gary Simmens

Licensed since 18 years young, and a broker honors in NJ since his early 20`s, Gary has now, over 44 years experience, diversified in all aspects in real estate, including owning two offices and ma....

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