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Mortgage Rates Hit Historic Lows, Again
As reported by Freddie Mac, the average interest rate on a 30-year mortgage has fallen again to new historic lows around 2.98%, while rates for 15-year mortgages hover around 2.58%.
Declining Rates & Increased Demand
With interest rates falling, data from the Mortgage Bankers Association shows purchase applications are 16% higher than they were this time last year.
English Countryside Surges
In the United Kingdom, country homes priced over $6.5 million have seen a 1.2% price increase in the second quarter of 2020 with a whopping 137% increase in prospective buyers, according to Knight Frank.
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Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity.
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