Carlos Cachon
Carlos Cachon

Mortgage Rates Dip Lower This Week


There is no reason to be paying rent right now.  Every percentage point allows buyers to qualify for approximately 13% more homes. Interest rates this low make it possible for a lot of buyers that will not be able to buy when they go back up.  The math is simple, every percentage point of interest rate is equal to approximately 13% in the purchase price.  

Thinking about refinancing?  

Take advantage of buying that dream pool home, you may be surprised with how low your new mortgage payment can be. Grab this opportunity to get more for your money and start building your net worth through a valuable investment.

Contact us now and learn how to navigate today’s housing market to take advantage of what it has to offer.

For more information, call

Your Home Sold Guaranteed Realty - The Cachon Team

Phone:   239-399-5432

Your Home Sold Guaranteed or We’ll Buy It! 

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Mortgage Rates Dip Lower This Week; 30-year Loan at 2.86%

Freddie Mac: It’s down from 2.88% last week and close to the 2.87% the 30-year FRM was at this time last year. The 15-year FRM now stands at 2.12%.

Mortgage Rates Dip

WASHINGTON (AP) – Average long-term mortgage rates dipped lower this week as economic prospects continued muted amid a wave of new delta variant coronavirus cases. They remained under 3%.

Mortgage buyer Freddie Mac reported Thursday that the average rate for a 30-year mortgage edged down to 2.86% from 2.88% last week. That’s very close to where the benchmark rate stood at this time last year, 2.87%. It peaked this year at 3.18% in April. Home loan rates fell in the early summer and then remained steady despite increases in inflation.

The rate for a 15-year loan, a popular option for homeowners refinancing their mortgages, fell to 2.12% from 2.19% last week.

Anxiety abounds that the highly contagious delta variant could cause the economic recovery from the pandemic to stall by reducing employment and dampening consumer spending. Vaccine hesitancy has been cited by economists as a significant factor after the government reported this month that employers added just 235,000 jobs in August, far short of the million or so added in each of the previous two months.

A new government report Thursday showed that the number of Americans seeking unemployment benefits moved up last week to 332,000 from a pandemic low, a sign that the spread of the delta variant may have slightly increased layoffs.

Copyright © 2021 Associated Press. All rights reserved.

If you are in the market for buying or selling a home, the Cachon Team is your best choice in Naples, Florida to help you.  Call us at 239-399-5432 or fill out the form below.

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