Christine Hazel

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Mortgage Rates Hit a New Record Low the First Week of 2021

January 7, 2021 by Christine Hazel

January 7, 2021
A new year, a new record low mortgage rate. Despite a full percentage point decline in rates over the past year, housing affordability has decreased because these low rates have been offset by rising home prices. However, the forces behind the drop in rates have been shifting over the last few months and rates are poised to rise modestly this year. The combination of rising mortgage rates and increasing home prices will accelerate the decline in affordability and further squeeze potential homebuyers during the spring home sales season.

Information provided by Freddie Mac.

Filed Under: MA, Monthly Skinny Video

Christine Hazel

Christine Hazel is a full-time, dedicated Realtor licensed in Minnesota with more than 10 years of real estate experience and success... (read more)

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