Mortgage rates continue to be at an all-time low as we near the end of the third quarter of 2020. Will this continue as the uncertainty of the rest of the year remains?
Freddie Mac’s chief economist says that “these rates continue to incentivize potential buyers and the home-buying season, which shifted from spring to summer, will likely continue into the fall.” This is a positive prediction for those that are continuing to invest in real estate in the near future.
Though interest rates are low, it is still important to weigh the pros and cons before making your decision about an investment. The best way to go about this is to have a team of experts or a mentor that can guide you to make the right choice alongside your options and goals. Are you planning on renting out your property? Flipping and selling? There are different risk factors with each approach and looking at those specific factors coinciding with your personal objectives is essential.
“The bottom line: investing in real estate is smart because property is tangible. People always have, and always will, need shelter. This means it is very unlikely that our need for shelter (ie: buying or renting homes) will ever go away.”
- Kathy Fettke, Co-Founder and Co-CEO of RealWealth
Resources:
https://freddiemac.gcs-web.com/news-releases/news-release-details/mortgage-rates-fall?_ga=2.136556535.636912944.1598524976-1232041933.1535712860
https://magazine.realtor/daily-news/2020/08/28/mortgage-rates-fall-again-average-291