May 2020 Mortgage Rate Forecast

May 2020 Mortgage Rate Forecast

May 2020 Mortgage Rate Forecast

By Mark Spain Real Estate

The real estate industry saw mortgage rates fall to historic record low levels in March 2020. Will May continue to bring low mortgage rates as well? Mark Spain Real Estate has summarized the mortgage rate forecast for May 2020 so you can stay in the know and make informed real estate decisions!

Are you ready to take advantage of today’s mortgage rates and buy a new home? We are here to help!

May 2020 Mortgage Rate Forecast

Overall, mortgage rates remain at record lows compared to March rates. As of April 2020, the average mortgage rate is 3.31%, reported by Freddie Mac. Whether you plan to buy a new home or refinance your existing mortgage, you may save thousands in interest when you take advantage of today’s mortgage rates! However, this doesn’t mean these rates will continue to remain this low.

Our Advice

With these record low rates, many people may wait until they drop even lower. However, times like these are wildly unpredictable and rates can change. The economy may make a fast recovery, creating a post-pandemic economy recovery. This could result in higher interest rates. Or, mortgage rates could stay relatively low. Do not wait and risk missing the opportunity to save. It is best to lock down the best rate now in case the market changes and the economy recovers abruptly.

At Mark Spain Real Estate, we provide unparalleled customer service while keeping our clients informed on the latest real estate trends. Contact us today and start packing!


Share:


Stay Connected

855-299-SOLD
855-299-7653