Freddie: Mortgage Rates Won’t Move Much Lower โ˜˜ Hoey Team โ˜˜ eXp Realty

Dated: September 7 2020

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Mortgage rates were mostly flat this week, remaining below 3%. “However, there are some interesting compositional shifts, as the 10-year Treasury rate has increased modestly over the past month while mortgage spreads have declined,” notes Sam Khater, Freddie Mac’s chief economist. “Spreads may decline even further, but the rise in Treasury rates will make it difficult for mortgage rates to fall much more over the next few weeks.”

Realtor Magazine 2020 09 07 Freddie Mac says thatinterest rates will not get much lower after going through the COVID-19 Coronavirus pandemic Hoey Team eXp Realty

Ultra-low mortgage rates are prompting existing- and new-home sales to increase to pre-pandemic levels, the National Association of REALTORS® reports. Mortgage rates have plunged nearly 80 basis points since the beginning of the year, which translates to a decrease in monthly mortgage payments of $120 for the typical American, NAR reports.

Freddie Mac reports the following national averages with mortgage rates for the week ending Sept. 3:

30-year fixed-rate mortgages: averaged 2.93%, with an average 0.8 point, up slightly from a 2.91% average last week. The all-time record low for 30-year rates was 2.88%, set at the beginning of August. A year ago, 30-year rates averaged 3.49%.

15-year fixed-rate mortgages: averaged 2.42%, with an average 0.8 point, falling from last week’s 2.46% average. A year ago, 15-year rates averaged 3%.

5-year Treasury hybrid adjustable-rate mortgages: averaged 2.93%, with an average 0.2 point, rising from last week’s 2.91% average. A year ago, 5-year ARMs averaged 3.30%

Here in Southwest Florida, inventory is low, but we continue to list and sell real estate.  At our Team โ˜˜ and Brokerage, we have been succesfully working 100% virtually / remotely for the past number of years as we grew, so we have been used to this new requirement.

Article content from our NAR (National Association of Realtors) Newsletter and from other sources including Freddie Mac and Hoey Team โ˜˜ eXp Realty

โ˜˜ Need To Work Remotely ~ Visit:  www.itsTheFutureOfWork.Com โ˜˜

Hoey Team โ˜˜ eXp Realty COVID-19 Resource Page

On this page we are adding a list of Vendors for COVID-19 related items here in SWFL.  Please let us know if there is a Vendor / Store we should add:   www.VisitCollier.Com      Feel free to share with anyone looking.

NOTE for Buyers and Sellers: On our Hoey Team โ˜˜ VIRTUAL OPEN HOUSE Page you may WATCH ? Detailed HD 3D Immersive VIDEO ? Walkthrough Tours for all our COMING to MLS & AVAILABLE LISTINGS right HERE: ? www.SWFLVRE.com  ? 

For more Real Estate related information as we go throught this COVID-19 experience, or if you have questions on any aspect of Buying, Selling, Upsizing, Downsizing, Moving within or Relocating to or from Florida (the number 1 state for people to move to), or on any aspect of the Real Estate Market, Locally, Nationally or Internationally, please let us know, we can help, we can address / answer your questions, and we are always available to help you or someone you know.

P.S. --> If You'd like for me to create a regular Video Tour for ANY of the Properties on our website, just CLICK "Video Request Button"; from property details.  We can visit the property and record you a video, or, if you want, we can do a one on one Facebook Live Showing:  https://HoeyTeam.239RealEstateDeals.Com

CLICK HERE to Visit our High Definition Virtual 3D Open House Tours Page 24/7

Click Here for our most recent Market update Report for Southwest Florida and beyond.

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Here is our informational Southwest Florida Website โ˜˜

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Please visit our Hoey Team โ˜˜ Luxury Home Market Page by Clicking Here

Hope Everyone Remains Safe; we are all in this together; and we trust that we will get through this Coronavirus COVID-19 pandemic more united, as one, with as little loss as possible. 

Please let Kim or Barry know if we can do anything to help anyone in need here in Southwest Florida, weither it is for you or for a loved one, and we are able to help in a responsible social distncing way, we will certainly do what we can to help.

Also; please check out the other blogs, and tabs to many other Links, Updates, Reports & Stats that we have here on our informational website.  โ˜˜

We hope that you find the information useful.  If you have any questions, please do not hesitate to contact Barry or Kim with the Hoey Team โ˜˜ brokered by eXp Realty

Email us at Barry@SWFLLuxury.Com  or KimZuponcic@Gmail.com or Call/Text the Hoey Team โ˜˜ at:  (239)-360-5527 

“Please Share this and our informational website with anyone who you think the info will help. 

Feel free to refer any family or friends; it is the greatest compliment that you can give to us; we really appreciate referrals from Past Customers, Friends and Fellow REALTORS, who we help in any way we can. 

Most of our business is referrals by word of mouth; from past Sellers and Buyers who we have helped; please ask for and check out our testimonials and Sales Stats.  Thanks, Barry & Kim โ˜˜

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Barry & Kim, Hoey Team ๐Ÿ€ 239RealEstateDeals.Com LLC โ˜˜

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