Thirty-year fixed rate mortgages plunged to another interest record low recently. And, the reason is being pinned on coronavirus (COVID-19) concerns. Although, how exactly has the system worked to drive interest rates lower? In fact, it has to do with investor activity. As a result, with the virus concerns, investors continue to move into treasuries. That’s the catalyst. At the same time, it leaves us with a March 2020 mortgage rates forecast of continued, record low rates. Also, concerns aside a moment, that’s good news for homeowners and buyers alike. Since that happens to be the case right now, it happens to be a peak opportunity to refinance or get approved for a home loan.
March 2020 Mortgage Rates Forecast Highlights
By how much did the fixed-rate mortgage dip? In fact, it dipped, from an already recent low of 3.45% to 3.29%. And, however you portray the market climate, these dips have already triggered a large-scale refinance boom. They are also expected to boost home sales. Why? Buyers keenly eye record low rates for home loans. Although for now, that activity has been slightly reserved.
Care over the COVID-19 issue is key. And rightly so, people are focused on doing their part to help stop its spread. Equally, they want to avoid catching this flu-like bug. In fact, it can be harsh like the flu, as we have seen. Although, so can panic.
Truth is, it’s all about remaining calm, alert and precautionary. That’s the best preventative, while we know a vaccine will be out soon. Also, good to know the most hard hit headed for the U.S. were not allowed, but quarantined. As a result, buying a home now ought to be the main focus, without much reservation, for buyers inclined to take the step in 2020. After all, As the March 2020 mortgage rates forecast shows, who really should miss out on these incredibly low home loan rates? Is there really any need to now?
Home sellers benefit from the same advice, as smart home buyers master their leverage with fast-tracked home loan approvals. Now’s a great time to sell. And, if you’re in San Mateo County CA, now’s a great time to hire a market and real estate expert. Why not do it right the first time, from start to finish? Why not give 5 Star Real Estate Agent, Carmen Miranda a call?