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Jason Taub - Realtor
Jason Taub - Realtor

30 Year Mortgage Rates Hit Another Record Low – 2.81%

It’s down from last week’s 2.87% as 30-year, fixed-rate loans hit a 10th all-time low this year. The average 15-year, fixed-rate mortgage dropped to 2.35% from 2.37%.

WASHINGTON (AP) – U.S. long-term mortgage rates fell this week as the key 30-year loan reached a new all-time low for the 10th time this year.

Home loan rates have marked a year-long decline amid economic anxiety in the recession set off by the coronavirus pandemic. Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year mortgage fell to 2.81% from 2.87% last week. By contrast, the rate averaged 3.69% a year ago.

The average rate on the 15-year fixed-rate mortgage declined to 2.35% from 2.37%.

The low borrowing rates have bolstered demand by prospective homebuyers. But the demand has been constrained by the economic hardship brought by the coronavirus pandemic as well as the scarcity of available homes for sale.

In the latest sign that layoffs remain a hindrance to the economy’s recovery from the pandemic recession, the government reported Thursday that the number of Americans seeking unemployment benefits rose last week by the most in two months to a historically high level.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

About Jason Taub - Realtor

Native South Floridian. Resident of downtown Fort Lauderdale for 8 years. Served on the Board of Directors for condo association of 400+ units. Extensive knowledge of the Fort Lauderdale area and Broward County. Buy, Sell, Rent - I've got you covered.

About D'Angelo Realty Group

From the inception of the downtown Fort Lauderdale condo market, consistently year after year, D’Angelo Realty Group has been the local market leader with a proven track record and longevity of listing and selling luxury estates in the greater East Fort Lauderdale area. Closing well over 1,200 condominium transactions and over $2 billion in real estate sales, the expertise within our full scale real estate brokerage will secure the highest market value for sellers and negotiate the most equitable price attainable for our buyers.

Contact Jason today for all of your real estate needs. Available 24/7.

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