Stay informed of Austin’s investment opportunities and real estate market trends with a quick look at the latest mortgage rates. Mortgage rates continue to linger near the bottom of the graph as the gap widens between home inventory and buyer demand. Even after a slight uptick in rates the first week of June 2020, they are still just .13% above the all-time low. The 30-year fixed mortgage rate landed at 3.18% in early June as the economy heads to the recovery ward.
Freddie Mac’s national average report shows all rates are trending downward from this time last year:
- 30-year fixed-rate mortgages: averaged 3.18%, a decrease from the 3.82% rate in June of 2019.
- 15-year fixed-rate mortgages: averaged 2.62%, down from the 3.28% rate from this time last year.
- 5-year hybrid adjustable-rate mortgages: averaged 3.10%. In 2019, these 5-year adjustable mortgages averaged 3.52%.
While rates are still incredibly low, buyers and renters are starting to take advantage and dive back into the home search. Not without precautions, however. In a recent industry survey, management professionals revealed their top priorities are focused on new technology and paperless leasing to meet the concerns and demands of current home seekers who need to know its safe. Technology is allowing the market to keep moving with virtual tours and remote signing solutions.
Investing in Austin can be fruitful, but it takes diligence and market knowledge to maintain a top return on investment. Relying on an experienced and professional property manager can help you avoid the high costs of new technology but keep you relevant in the 2020 rental market. If you have property management questions or are considering hiring an Austin professional this year, contact Dona Brown. Her experience can help you navigate investing and managing. 512-721-1094.
Also, check out these recent blogs for more Austin investment resources:
- When Is It Time to Hire a Property Manager?
- Investing Opportunities in Austin 2020
- Property Management During COVID-19
- Why You Need to Invest in the Home Office in 2020
- Reporting Rental Income on 2020 Tax Return
- How a Property Manager Protects Your Real Estate Investments
- Avoid These Rookie Real Estate Investor Mistakes