Every news outlet has remarked on the mortgage rates of 2020 hitting record lows multiple times, which has resulted in an interesting situation for real estate during a global pandemic. People are thinking more about where they spend time with their families and friends. Many are moving out of the tight-quarters of the cities and out into the suburbs with more greenspace and more square footage for families to spread out, where kids and parents can make a better attempt at working and going to school remotely under the same roof. While across the nation we’re seeing signs of a seller’s market with low housing inventory, high prices and rapid purchases, the mortgage rates being so low still make this a good time to buy when you find the right property for your budget. However, the state of current mortgage rates does make this an excellent time to refinance if that’s something you’re considering. However, experts predict that mortgage rates will begin increasing again in 2021, so if you haven’t purchased in 2020, you’ll want to keep a close eye on potential mortgage rate increases as you prepare to either finance or refinance your home.