Menu
As mortgage rates achieved a new low for the fourth time in the past five weeks, there may never be a better time to buy your new dream home! Kathy Orton reports on this new historic low and what it can mean for new home buyers in this recent article for The Washington Post.
According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average tumbled to 2.98 percent with an average 0.7 point. (Points are fees paid to a lender equal to 1 percent of the loan amount and are in addition to the interest rate.) It was 3.03 percent a week ago and 3.81 percent a year ago. Since November 2018, when it was 4.94 percent, it has fallen nearly two percentage points.
The 30-year fixed rate is at its lowest level since Freddie Mac began tracking mortgage rates in 1971. It surpassed the previous low of 3.03 percent, set last week. This is the seventh time the 30-year fixed rate has fallen to a new low in the past several months.
Freddie Mac, the federally chartered mortgage investor, aggregates rates from 125 lenders nationwide to come up with weekly national average mortgage rates. It uses rates for high-quality borrowers who tend to have strong credit scores and large down payments. These rates are not available to every borrower.
The 15-year fixed-rate average slipped to 2.48 percent with an average 0.7 point. It was 2.51 percent a week ago and 3.23 percent a year ago. The five-year adjustable rate average rose to 3.06 percent with an average 0.3 point. It was 3.02 percent a week ago and 3.48 percent a year ago.
As 30-year fixed mortgage rates once again fall to historic lows, new home buyers not only have the unprecedented opportunity to obtain their dream home at a lower mortgage rate, but also with lower monthly payments. If you’ve been considering a new home, the right time is now!
And when you buy with Lennar Jacksonville, the financial advantage of purchasing now isn’t the only benefit on your horizon …
Healthier Home, Happier You
Apartment complex living has its own advantages — and we would certainly never deny as much — but while renting is an ideal longterm situation for some families, it might be time for you to consider taking the next leap.
After all, living in close proximity to other tenants whose habits you can’t account for is less than ideal considering the current challenges in social distancing. Plus, with the volatility of other renters’ incomes, you never know if your landlord might decide to skyrocket your rate come time to renew your lease.
Thus, there has never been a better time to stop renting and start owning.
With a new home of your own, not only can you provide an enhanced sense of security and financial stability, but you can ensure a healthier, happier, and cleaner home environment for the ones you love most.
Big Family, Bigger Home
No matter the size of your family, new Lennar homes in the Jacksonville/St. Augustine area have the space to accommodate everyone. In fact, not only have multigenerational home living situations been on the rise in recent years, but many families are now finding both solace and safety in the sense of community that comes from consolidating households in the wake of the pandemic.
And Lennar has accounted for these living styles with floorplans and homes designed with family wellness and comfort in mind, such as with our Next Gen® Home Within a Home® option, which balances your family’s sense of togetherness and privacy all under one roof.
If you’re adjusting to working from home, Lennar’s Next Gen® floorplans provide an attached suite outfitted with everything you need for the ultimate home office location. More than just dual master suites or an extra bedroom, the Next Gen® home offers a private space where the possibilities to work, learn and create are truly endless.
Everything Is Better When Everything’s Included®
If your home isn’t designed to provide you with optimized connectivity, efficiency, luxury, and simplicity, is it really working for you?
Especially during a period of persistent instability and change, the need has never been greater to come home and experience unparalleled quality and comfort, which is why Lennar Jacksonville equips its homes with the Everything’s Included® feature — which comes at no extra cost to you in the homebuying process.
Everything’s Included® means modern designs and appliances meet your desired specifications for energy efficiency, home services, technological installations, and more. After all, we may not be able to control the world outside our front door, but the world you create inside your home should be tailored to the things that bring you the most joy and relaxation.
Your dream of homeownership is within reach! Turn to Lennar, whose history as leading homebuilders have paved the way for over a million new homebuyers to open the door to new possibilities. To learn more about how we can help you, contact us today! We look forward to welcoming you home.
