Home Loan Fort Lauderdale When was the last time you saw rates below 3%? Precisely! These rates are at all-time historic lows in response to our current economic uncertainties. They are particularly advantageous for those who managed to weather the storm. Low rates seem to be moving people from a place off the fence. According to the National Association of Realtors®, existing home sales have moved at a “strong, upward trajectory” in July, marking two months of sales gains, with the exception of homes in the Northeast. The quick take: July (the last set of data from NAR) showed, nationwide, $5.86 million in sales with approximately 3.1 months of inventory available. Sales prices, across the board are up by 8.5%. Of course, this varies from place to place but the overall picture is a bright one for those who are considering buying a home right now. Homebuying still relies on mortgage approval, of course. For those who are lucky enough to come out the other end without being laid off or furloughed and can qualify, mortgage rates are one silver lining in a rocky few months. Before you jump, make sure you’re in a good place to qualify for a mortgage. Make sure you have enough in savings for an adequate down payment unless you’re able to take advantage of a VA loan. Florida State Mortgage Group, Inc. 1512 E Broward Blvd #204A, Fort Lauderdale, FL 33301 (954) 359-3000 Mon-Fri 9am-5:30pm Sat:10am-3pm Sun:10am-2pm https://www.google.com/maps?cid=5464149498827190981