COVID-19 cases continue to increase across the states, with California, Texas, and Florida being three states with the highest counts. Alongside that, mortgage rates have remained at all-time lows due to the virus, with money managers of the like shifting into bonds that are more manageable as we wait for a shift in our current financial environment. Low mortgage rates have thankfully allowed those to buy fixed assets to boost competition, alongside low-interest rates to help support homes as well.
Low mortgage rates have thankfully been a bright spot in this current economy. With cheaper rates, mortgage borrowers can get larger the average size of money than per usual, due to monthly payments shrinking as financing costs go lower. In turn, this allows those to bid higher for a home than they usually would. While rates won’t increase any time soon, still keep your eyes open and alert as Mortgages Done Right continues to deliver you the latest in mortgage news. Call us today or visit our website to see how we can keep you in the loop and help you with your mortgage based issues as well!