Mortgage Rates Rise to a 3-Month High โ˜˜ Hoey Team โ˜˜ exp Realty ๐ŸŒด Southwest Florida ๐ŸŒด

Dated: February 20 2021

Views: 85

The 30-year fixed-rate mortgage reversed course this week, moving up to a 2.81% average. That marks its highest point since mid-November, Freddie Mac reports.

Realtor Magazine 2021 02 19 Mortgage rates Rise to a three month high since the begining of the plandemic after going through the COVID-19 Coronavirus pandemic Hoey Team exp Realty

“Economic spending has improved, due to the most recent stimulus, but supply chain shortages are causing downstream inflation, leading to higher mortgage rates,” says Sam Khater, Freddie Mac’s chief economist. “While there are multiple temporary factors driving up rates, the underlying economic fundamentals point to rates remaining in the low 3 percent range for the year.”

Indeed, mortgage rates continue to hover near record lows. The all-time low for the 30-year fixed-rate mortgage was 2.65%, set in January.

Freddie Mac reports the following national averages with mortgage rates for the week ending Feb. 18:

  • 30-year fixed-rate mortgages: averaged 2.81%, with an average 0.7 point, rising from last week’s 2.73% average. Last year at this time, 30-year rates averaged 3.49%.
  • 15-year fixed-rate mortgages: averaged 2.21%, with an average 0.7 point, increasing from last week’s 2.19% average. A year ago, 15-year rates averaged 2.99%.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.77%, with an average 0.2 point, dropping from 2.79%. A year ago, the average ARM averaged 3.25%.

Freddie Mac reports average points along with commitment rates to better reflect the total upfront cost of obtaining the mortgage.

Here in Southwest Florida ๐ŸŒด especially as people continue to move / relocate to the area from other parts of the US, inventory remains low overall, but we do continue to list new properties to the market and sell many homes; both Single family, and Condo type.  We have also seen an uptake in people planning ahead, and buying that second home now, rather than waitiang as they were planning to do.  Low interest rates are probably helping with this additionally.  Low inventory is the greatest chalenge for buyers.  For those relocating to Florida, we are pleased to be able to assist homeowners in other parts of the United States who need to sell to buy here; please reach out today for more information and how you can have a smooth, non-stressful transition / relocation.

At our Real Estate Team; Hoey Team โ˜˜ we have been succesfully working 100% virtually / remotely for the past number of years as we continue to grow; i'm glad we already had systems in place to better help sellers and buyer with goal posts continually moving in our industry.

Article content from our NAR (National Association of REALTORS) Newsletter Magazine, and from other sources including Freddie Mac and Hoey Team โ˜˜ exp Realty

For those Living in or Visiting Southwest Florida wanting additional resources, or a list of places to see / visit:   www.VisitCollier.Com      Feel free to share this resource page with others  ๐ŸŒด

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, 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 us to create a Video Tour for ANY of the Properties on our website, just CLICK "Video Request Button"; from property details 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.

We do not discriminate on price, we help homeowners and renters in all price ranges; Click Here for more information on the Hoey Team โ˜˜ and what we do to help or visit HoeyTeam.Net anytime.

Here is our informational Southwest Florida Website โ˜˜

Barry is a CLHMS; Click Here to see how we help with higher end properties.

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

Best Places to Retire? 13 of the ‘Top 25’ Are in Fla โ˜˜ Hoey Team โ˜˜ exp Realty ๐ŸŒด Southwest Florida ๐ŸŒด

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˜˜

Blog author image

Barry & Kim, Hoey Team โ˜˜ exp

"Your Real Estate Concierge" If you are looking for a REALTORยฎ or one-stop Real Estate Team who will fully communicate; promptly, professionally, and in detail with you, to efficiently help you wit....

Latest Blog Posts

๐Ÿšจ Where Termites Tend to Be the Worst โ˜˜ Hoey Team โ˜˜ exp Realty ๐ŸŒด Southwest Florida ๐Ÿ€

April 9, 2021  Watch out in Miami, Los Angeles, and Tampa, Fla.: These places can be hotbeds for termites, according to Orkin’s 2021 Top 50 Termite Cities List.Orkin, a national pest

Read More

๐Ÿ˜ Homeowners Turn to Smart-home Tech in Pandemic โ˜˜ Hoey Team โ˜˜ exp Realty ๐ŸŒด Southwest Florida ๐Ÿ€

March 30, 2021  One in four Americans purchased a smart-home device in 2020, according to a new survey from SafeWise, a firm that offers safety solutions and resources for the home. The

Read More

๐Ÿ“ข Florida Realtors Will Oppose Bill to Dilute Housing Trust Funds โ˜˜ Hoey Team โ˜˜ exp Realty ๐ŸŒด Southwest Florida ๐Ÿ€

Fla.’s House speaker and Senate president proposed a permanent two-thirds decrease in the state’s affordable housing trust funds. Florida Realtors immediately objected.TALLAHASSEE, Fla.

Read More

๐Ÿ“ฃ Small-business Loan โ€˜Lifelineโ€™ Extended โ˜˜ Hoey Team โ˜˜ exp Realty ๐ŸŒด Southwest Florida ๐Ÿ€

If your business continues to feel the effects of the pandemic, you now have an additional two months to apply for a loan through the Small Business Administration’s Paycheck Protection.

Read More