An advertising sign for building land stands in front of a new home construction site in Northbrook, Ill., Sunday, March 21, 2021. Mortgage rates fell for a second straight week amid signs of economic improvement. Mortgage buyer Freddie Mac reports, Thursday, April 15, that the benchmark 30-year home-loan rate declined to 3.04% this week from 3.13% last week. (AP Photo/Nam Y. Huh)
McLEAN, Va. (AP) — Mortgage rates fell for the third straight week, dipping below 3% for the first time in two months.
Mortgage buyer Freddie Mac reported Thursday that the benchmark 30-year home-loan rate declined to 2.97% this week from 3.04% last week. At this time last year, the long-term rate was 3.33%.
The rate for a 15-year loan, popular among those looking to refinance, dipped to 2.29% from 2.35% the week before.
Experts have expected home-loan rates to increase modestly in the short term, while remaining at low levels in light of the Federal Reserve’s goal of keeping its principal borrowing rate near zero until the economy recovers from the pandemic.
Even with historically low rates, buyers are having a hard time snatching up homes because there are so few for sale.
Another report Thursday from the National Association of Realtors showed that sales of existing home sales fell for the second straight month in March because there are so few on the market. The coronavirus pandemic has fueled demand for single-family homes as people look for more space.
On the bright side, the Labor Department reported Thursday that the number of Americans applying for unemployment aid fell last week to 547,000, the lowest point since the pandemic struck and an encouraging sign that layoffs are slowing on the strength of an improving job market.
Featured Article: How a Strangle Strategy is different from a Straddle Strategy7 Outdoor Recreation Stocks For Growth And Dividends
If American’s liked outdoor activities before, they love them even more now. The COVID-19 pandemic has done many things, and one of them is reinvigorating American’s love of the outdoors. Data from across the industry shows a sustained uptick in revenue that has the entire complex moving higher.
The RV Industry Association, for example, reports shipments of RVs are up greater than 30% in 2020 and are expected to grow another 20% or more in 2021. If data from the two of the industry’s largest manufacturers are any indication, that forecast is very conservative.
And the gains aren’t limited to RVs. Everything that has anything to do with outdoor recreation is booming. Sales at Dicks Sporting Goods, an iconic brand for retail and the outdoors, has seen a sustained 20% increase in revenue since the 2nd quarter shutdowns. If anything, revenue in this sector is being held back by rapidly declining inventory and tight shipping conditions.
The stocks we are about to show all have something in common; the outdoors. Within the group, you will find everything from RVs to Radios and everything in between an outdoor enthusiast could need or want. Some pay dividends and some don’t, but all will deliver solid returns to investors in 2021.
View the "7 Outdoor Recreation Stocks For Growth And Dividends"