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Mortgage Rates Drop This Fall

 

This month mortgages dropped to their lowest since October 2016. Slightly increasing this past week but still maintaining low rates. The 30, 15 and 5/1 year fixed-rate mortgage were 3.73%, 3.21%, and 3.41%, respectively as for September 19, 2019, a mortgage loan company reports.

The trade war with China increasing tariffs has affected the U.S economy since it is slowing economic growth. Despite that, the National Association of Realtors said that home sales increased an estimated 1.3% to a seasonally adjusted annual rate of 5.49 million units last month.

This determines that although economic growth is slowing, because of the devasting ongoing economic conflict between the world’s two largest national economies, fundamental products and services are still under demand and supply for American consumers. 

Therefore, this is a recommended season to purchase a home, due to low mortgage rates, meaning that you will get a better deal.