HIstorically Low Mortgage Interest Rates

Dated: August 3 2020

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As has been true for much of this spring and summer, mortgage loan interest rates are at historic lows. According to the National Association of Realtors, average rates for a 30-year fixed rate mortgage are at 2.99%, just a hair above the record low set last month. 

Madison rates in general look roughly the same. One of Dane County's largest mortgage lenders has a current 30-year at 3%. A quick search this morning showed similar rates at other lenders as well. 

These low rates can mean more house than you might otherwise be able to afford. So if you even think you might have the resources and ability to begin a home search right now, it may be worth getting a pre-approval. Rates are very unlikely to ever be much lower than this. 

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David Pausch

In November of 2000, I closed on my first house, a rough-around-the-edges 1922 colonial with lots of sun, not a lot of storage, and an enormous oak tree in its postage stamp-sized back yard. From the ....

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