How To Get A Mortgage In 2020

Author: External Author | | Categories: Commercial Mortgage , FHA Jumbo Loan , FHA Streamline Refinance , Mortgage Broker , Mortgage Calculator , Mortgage Professional , Reverse Mortgage , VA Loan

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Sure, mortgages today are historically cheap, but that doesn’t mean you’re going to land a great deal: Getting a mortgage isn’t as easy as it used to be. Indeed, mortgage rates have fallen to all-time lows. Freddie Mac’s weekly rate survey for May 21 finds that interest rates on 30-year mortgages averaged 3.24%. Less than two years ago, the average rate was a percentage point and a half higher. Five-year adjustable rate mortgages this month were even cheaper—at 3.17%—and 15-year fixed-rate loans averaged 2.7%.

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Original Article Source Credits: forbes, https://www.forbes.com/

Article Written By Mark Henricks

Original Article Posted on : May 21, 2020

Link to Original Article: https://www.forbes.com/sites/advisor/2020/05/21/how-to-get-a-mortgage-in-2020/#4e951bad4528



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