July 2020 |
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Luxury News |
Mortgage Rates Hit Historic Lows, Again As reported by Freddie Mac, the average interest rate on a 30-year mortgage has fallen again to new historic lows around 2.98%, while rates for 15-year mortgages hover around 2.58%. Â Declining Rates & Increased Demand With interest rates falling, data from the Mortgage Bankers Association shows purchase applications are 16% higher than they were this time last year. Â English Countryside Surges In the United Kingdom, country homes priced over $6.5 million have seen a 1.2% price increase in the second quarter of 2020 with a whopping 137% increase in prospective buyers, according to Knight Frank. |
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