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Mortgage Rates Fall Again and Could Keep on Falling

The moribund housing market may be getting a much-needed jolt.

New numbers indicate that mortgage rates have dropped to their lowest level since October 2016 due to weaker economic data. The 30-year fixed-rate mortgage averaged 3.49% during the week ending Sept. 5, down 9 basis points from the previous week.

The 15-year fixed-rate mortgage moved down 6 basis points to an average of 3.00%, according to Freddie Mac.

According to Freddie Mac, “Mortgage rates continued the summer swoon due to weaker economic data. While economic growth is clearly slowing due to rising manufacturing and trade headwinds, economic fundamentals are still solid for U.S. consumers.”

In addition, the Federal Reserve may lower interest rates again this month, fueling another drop in mortgage rates.

It’s anybody’s guess if these decreases will have a major impact on home buying. Stay tuned.

Read on HERE:

Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452.

Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.

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