Mortgage rates are down again this week for the second consecutive week.
The average for a 30-year fixed-rate mortgage dropped from 3.50% to 3.33%. The rates for a 15-year mortgage dropped even further below 3%, down to 2.82%. The current rates are now at some of the lowest levels we have seen in the past 5 years!
Update On The Effect Of COVID-19 Upon Real Estate
On March 28th, the Department Of Homeland Security announced that real estate is an essential service. This announcement provides assurance that real estate professionals, including title companies, government land records offices, and mortgage providers will continue to operate. These businesses are adjusting operations to follow CDC guidelines and best practices.
If you are still searching for a home and are nervous about COVID-19, check out our recent blog post to learn about how we are adjusting our business practices to follow CDC recommendations. Many of our clients are turning to technology in order to stay safe. We are offering clients free online access to all of the local listing inventory, virtual showings, and electronic signatures for signing documents. You only really need to view one house in person, the one you purchase.
During all showing and property inspections, we are requiring that everyone use hand sanitizer, maintain a minimum 6′ distance, and refrain from un-necessarily touching anything while inside the house.
If you have further questions about buying and selling during this unique time, give us a call or send us a message below.