Highlands NC Real Estate, Mortgage Rates Remain Low
Highlands NC real estate is benefiting from the fact that mortgage rates remain low. Economic uncertainty related to the global pandemic has kept the Federal interest rate hovering near zero. While not directly tied to mortgage rates it has had a positive effect on home loans. Those that can refinance from higher rates can benefit greatly and those looking to purchase a home can save tens of thousands of dollars over the lifetime of a loan.
How low are mortgage rates?
This past week ended with an average rate of 2.67% for a 30-year fixed-rate mortgage. The average for a 15 year fixed rate mortgage was 2.21%. A year ago these rates were roughly 3.7% and 3.2% respectively. This significant decrease is great for anyone looking to borrow money or refinance an existing loan.
Highlands NC market remains hot
People are drawn to buying a Highlands NC home for the lifestyle. With so many working from home these days, the opportunity to get outside on a break or after work adds great appeal. People can end the workday with a hike, a game of golf, or a bike ride. Additionally, the lack of commute time equates to more time with family.
Learn more about Highlands NC real estate
Contact me, Lynn Kimball, today to learn more about living in Highlands NC. I welcome the opportunity to update you on the market while helping you get to know the area like a local. Additionally, if you are looking for a lender throughout the buying process I can recommend reputable local lenders. Let my knowledge and experience serve as your guide to Highlands NC real estate.
Click here to read “Mortgage Rates Continue to Drop With New Record Lows” from REALTOR Magazine.