Small businesses that borrowed $150K or less can soon apply for loan forgiveness directly through the Small Business Administration rather than their lender.WASHINGTON – The U.S. Small
Freddie: Mortgage Rates Won’t Move Much Lower ☘ Hoey Team ☘ eXp Realty
Dated: September 7 2020
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.”
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 ☘ 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 ☘ eXp Realty
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.
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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.
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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. ☘
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 ☘ brokered by eXp Realty
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