Mortgage Rates Hit Another Record Low
December 24, 2020
The housing market is poised to finish the year strong as low mortgage rates continue to fuel homebuyer demand and refinance activity. Moving into 2021, we expect rates to hold steady but the key driver in the near term will be the trajectory of the COVID-19 pandemic and the execution of the vaccine.
I use this chart for trends only. It shouldn’t be used for a rate quote.
The mortgage rate trend has been clearly downward over the last 12 months. This is good for both buyers and sellers. Lower rates mean buyers can qualify for larger mortgages. Also, it is good for sellers because it increases the number of buyers that can afford to purchase their house.