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Mortgage rates hit an all-time low  warming up the real estate market

Mortgage rates hit an all-time low warming up the real estate market

A combination of an all-time-low interest rate with a drop in unemployment is warming up the real estate market in US. 2020 saw the 30-year mortgage rate drop to 2.80%, the lowest since 1971. This represents a 33% drop when compared to the 3.75% interest rate from 2019. Home sales last month rose at the fastest annual rate since 2010 while applications to buy a house are up 26% over the year.

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