Fears about a slowing economy make raising interest rates an unattractive prospect. This continues to keep interest rates low nationwide and is great news for buyers.
The 30-year fixed-rate mortgage averaged 3.82% in the June 13 week, unchanged during the week, Freddie Mac said Thursday.
According to Realtor.com, “Lower rates are touching the housing market in unexpected ways. Demand for home loans has been so robust that mortgage lender profit margins turned positive for the first time in nearly three years.”
Even though housing standards aren’t easing much, home buyers seem to have learned the lesson of the 2008 recession. They are entering the home buying market with a more practical mindset. And interest rates staying low helps keep home ownership in reach for more Americans.