Arizona Mortgage Rates for October 15, 2020
Mortgage Rates are reported to Freddie Mac, a Government Sponsored Enterprise that tracks rates with a weekly report. Arizona mortgage rates usually run close to the national average. Your Arizona Mortgage rate could be much lower depending on your own personal situation. If you’re in the market for a mortgage refinance or purchase loan please give me a call or complete our online request form.
Mortgage Rates Drop, Hitting Another All-Time Low
Low mortgage rates have become a regular occurrence in the current environment. As we hit yet another record low, the tenth record this year, many people are benefitting as refinance activity remains strong. However, it’s important to remember that not all people are able to take advantage of low rates given the effects of the pandemic.
Disclaimer: Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.
After remaining flat last week, Arizona Mortgage Rates for October 15 2020 saw another decrease in rates to record lows. Rates for most loan terms including 30 year fixed and 15 year fixed loans are all below 3%. Rates on a 15 year loan could go lower and end up below 2%! Hard to believe but that’s the trend.
How do you get the lowest possible Arizona mortgage rate? Work with a knowledgeable local lender and submit a complete mortgage application so that if and when rate drop in the future you’ll be able to take advantage.
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