Mortgage Rates Hit Lows in 2020

Published: August 03, 2020

We live in a world suddenly short of certainties, but we can tell you this for sure: If you’re looking to buy a new home, this is a great time to take advantage of very low interest rates on 15- and 30-year mortgages.

We can’t help you look at properties, but UNITS® makes moving and relocation a little easier. We can help you move door to door locally or nationally. We also provide packing and moving supplies for your move. The time for you might very well be now.

As August began, the average rate for the benchmark 30-year fixed mortgage was 3.09 percent, a decrease of 5 basis points over the last week, according to Bankrate.com. One month ago, the average rate on a 30-year fixed mortgage was 3.25 percent. At the current average rate, you’ll pay principal and interest of $426.47 for every $100,000 you borrow.

The average 15-year fixed-mortgage rate is 2.72 percent, down 3 basis points over the last week, Bankrate.com reports. Monthly payments will cost around $677 per $100,000 borrowed. That payment is higher than on a 15-year note, but you’ll save thousands over the life of the loan in total interest paid and you’ll build equity far more quickly.

You buy the house, and we’ll help make your move so much easier. Call us today at (855) 981-8648.