As we kicked off 2012 the talk is that interest rates are still at an all time low, but recent discussions in HOUSINGWIRE have been that interest rates are beginning to rise. Per Freddie Mac, "the 30-year , fixed rate mortgage averaged 4.08% for the week ending Thursday, up from prior week's average of 3.92. Last year at this time, the 30-year FRM averaged 4.81%."
"The 15-year,fixed-rate home loan,a common financing option averaged 3.30%, up from last week when averaged 3.16%. A year ago average rate for a 15 -year FRM was 4.04%."
This is positive for real estate beacuse is motivates buyers who are hesitating on making a move. Obviously, would not want to wait too long and end up with a higher mortgage rate in your next home purchase.
For anyone out there that does not want to miss out on the lower mortgage rates, please contact me so we can get the process started, to purchase your dream home at a lower rate. Alma@RogersHealy.com