Monday, October 5, 2020 / by Juan Luis Macedo
In July, the average 30-year fixed-rate the mortgage fell below 3% for the first time in history. And while many Americans have rushed to take advantage of this unprecedented opportunity, others question the hype. Are today’s rates truly a bargain?
While average mortgage rates have drifted between 4% and 5% in recent years, they haven’t always been so low. Freddie Mac began tracking 30-year mortgage rates in 1971. At that time, the national average was 7.31%. As the rate of inflation started to rise in the mid-1970s, mortgage rates surged. It’s hard to imagine now, but the average U.S. mortgage rate reached a high of 18.63% in 1981.
Fortunately for home buyers, inflation normalized by October 1982, which sent mortgage rates on a downward trajectory that would bring them as low as 3.31% in 2012. Since 2012, 30-year fixed rates have risen modestly, with the daily average climbing as high as 4.94% in 2018.
So what’s causing today’s rates to x ...
Friday, October 2, 2020 / by Juan Luis Macedo
For years now, virtual home tours have helped real estate buyers far and wide find the perfect home. But because of the pandemic, they have recently experienced a huge spike in popularity. One survey found that nearly 33% of recent home tour requests were for virtual tours, as compared to just 2% pre-pandemic. And it’s easy to see why.
Buyers want to quickly find their next safe haven, one that may need to serve as their office, gym, and even a classroom for months to come. And sellers want to limit the number of strangers in their home, yet still have the ability to reach enough potential buyers to get the best offer on their property.
Virtual home tours are the popular thing right now, but that doesn’t automatically mean they’re the only option for your home buying or selling experience. Read on to learn five important secrets of virtual home tours and how they impact today’s home buyers and sellers
SECRET #1: Virtual Tours Have Evolved
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