According to the article today on January 30, 2020 Mortgage Rates Basically at Best Levels Since 2016:
For top tier scenarios, the average lender is now offering rates not seen since 2016, with the slight exception of a few hours during the beginning of September 2019…. In other words, today is tied for the lowest levels in more than 3 years.
Matthew Graham
Time to Buy or Refinance
The graphic below indicates how purchasing power decreases as rates increase.
The inverse of the graphic is also true. As mortgage rates decrease, buyers can afford a higher priced home. Current owners can lower their payments.
This could be an opportunity to move up in home or to lock in a low rate mortgage. If you are interested in seeing how you could benefit, give me a call at 925-385-8798.
Peter is a real estate broker serving Central Contra Costa County. He and his family live in the Dana Estates Neighborhood.
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