A recent survey conducted by Zillow revealed that a significant portion of recent home buyers, around 45%, were able to secure a mortgage rate below 5%. This statistic highlights the current trend in the mortgage industry where borrowers are able to take advantage of historically low interest rates. This finding underscores the importance of shopping around for the best mortgage rate possible in order to save money over the life of the loan.
Key points from the text:
– 45% of recent buyers secured a mortgage rate below 5%
– Emphasis on the importance of shopping around for the best mortgage rate
– Current trend in the mortgage industry of historically low interest rates
You can read this full article at: https://www.housingwire.com/articles/zillow-recent-homebuyers-creativity-to-combat-high-mortgage-rates/(subscription required)
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