More great Real Estate news!

December 27, 2008

Interest rates are at the lowest level since Freddie Mac began it’s mortgage rate survey in 1971!  The rate average fell to 5.14% last week.  With 30 years mortgages being locked as low as 4.75%!  In fact, as one point last week rates were available as low as 4.50%.  This is basically free money.  These are rates that are usually offered for short term CD’s and money market accounts.

 

To put this in terms of how it affects the monthly affordability of a home purchase, on a $300,000 home this has lowered the monthly payment over $400 from what rates peaked at this year.  With home prices softened and the availability of inventory to select from, this just creates more of a reason to buy real estate now!

 

See full story at: http://www.marketwatch.com/news/story/benchmark-30-year-mortgage-rate-lowest/story.aspx?guid=%7BFBF44C67%2D5FB8%2D431A%2D9B58%2DF311B3CA8075%7D&siteid=bnbh

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: