Mortgage Rates Tumble In 2019—Making Now A Great Time To Buy

Dated: 06/06/2019

Views: 397

Mortgage Rates Tumble In 2019—Making Now A Great Time To Buy

One of the biggest factors for buyers in determining the right time to buy a home? Mortgage rates. Securing a low interest rate on your mortgage can save you tens of thousands of dollars over the course of your loan while buying when rates are high can cost you tens of thousands of dollars in interest.

So where, exactly, are mortgage rates in 2019—and what does that mean for buyers?

According to a recent article in REALTOR Magazine, mortgage rates have been steadily falling in 2019. Currently, the average rate for a 30-year fixed-rate mortgage is 4.28 percent—down .17 percent from this time last year (when the rates averaged 4.45 percent). Rates for 15-year fixed-rate mortgages have fallen even more; currently, the average rate for a 15-year fixed-rate mortgage is 3.71 percent—down a full .2 percent from March 2018 (when the rates averaged 3.91 percent).

The Takeaway

If you’ve been thinking about buying a home, securing a mortgage when interest rates are low can save you a huge amount of money over the course of your loan—so now would be a great time to make a move.

Blog author image

Lee Ferreira

I grew up in New Jersey and worked as a paralegal for a personal injury firm for over 8 years and then became a stay-at-home mom while raising my 2 daughters. I moved to Bethlehem, PA in 2003 and hav....

Latest Blog Posts

Bidding Wars Are On The Rise

Bidding Wars Are On The RiseThe Coronavirus pandemic and subsequent shutdowns across the country forced many potential buyers to put their home search on hold. But for the buyers that did make a

Read More

Sight Unseen Home Purchases Are On The Rise Due To COVID-19

Sight Unseen Home Purchases Are On The Rise Due To COVID-19Buying a home is one of the biggest purchases most people will make in a lifetime. And because it’s such a huge investment, most

Read More

You Can Still Find Your Dream Home During The COVID-19 Pandemic

In the midst of the coronavirus pandemic, social distancing is our new normal—and could continue to be the norm for the foreseeable future. But staying at home and keeping a safe distance from

Read More

Stuck at Home? Spruce Up Your Walls With These Paint Trends

With everything going on with the coronavirus pandemic, it’s looking like many Americans are about to be spending a lot more time at home. And as you spend more time at home, you’re also

Read More