Are Mortgage Rates Increasing?

Dated: June 7 2021

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According to FloridaRealtors.org mortgage rates for a 30-year Mortgage is still below 3%/.  Even though rates have increased they still remaiin at record lows even though we are slowly coming out of a pandemic.

The rate for a 15-year loan, popular among those seeking to refinance, was unchanged from last week at 2.27%.

In the latest economic news, the government reported that the number of Americans seeking unemployment benefits dropped last week for a fifth straight week, to 385,000, a new pandemic low and additional evidence that the job market is regaining its health as the economy further reopens.

With mortgage rates still very low, and a significant decrease in inventory the housing market is hot for sellers.  Buyers are willing to pay well over list price to purchase a house.  If inventory continues to stay low, I don't predict a change in the housing market and rising prices.  

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Maurice Murphy

Hi, I'm Maurice Murphy, a retired veteran, and a licensed Florida Realtor; I'd love to assist you. Whether you're just in the research phase at the beginning of your real estate search or you know exa....

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