Interest Rates at New Lows after Falling for the 6th Time in 7 Weeks

Interest Rates Down Again to Another New Low





The experts keep telling us to watch for higher interest rates and I think there is no doubt that at some point this picnic is going to end. But when is anyone’s guess so let’s enjoy this amazing opportunity every day that we have it on the table in front of us. Interest rates remain at historical lows and continue to amaze, down again this week for the sixth time in seven weeks and the one week they didn’t go down they were up a minuscule increase of 1 basis point. As of today the average overnight rate, as reported by Bankrate.com, for a 30 year fixed rate sits at 4.54% down 6 full basis points from where we sat last week at 4.60%. No doubt we are living through one of the best eras to borrow money that we have experienced in my lifetime.

The benchmark 15 year fixed rate also decreased by 4 basis points last week to 3.78% from 3.82% while the benchmark 5/1 adjustable rate mortgage dropped to 3.11% from 3.15% just seven days ago.


I can only recommend that if you have any thoughts of buying a home and borrowing money to do so that you take a hard and close look at the current interest rate environment. This truly may be a golden opportunity that may be gone in a blink of an eye. Unbelievably, when I purchased my first home back in the early 1980’s interest rates were at 18%; now talk about crazy!

We take great pride here at “Results Driven Real Estate” in providing our clients the very highest level of service available in the industry. If we can be of assistance in any way with questions you may have about your real estate goals please feel free to contact me at your convenience for a complimentary consultation.

Always at Your Service,

Tom Priester  e-PRO
“Results Driven Real Estate”

Keller Williams Realty
561 308-0175
tom@tompriester.com

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Tom Priester

After spending years among the top individual performers at one of Palm Beach County’s largest and most successful real estate brokerages, Tom Priester knew there was another way to do real estate. A better way. Real estate services focused on the customer. Like the old days when the customer truly was #1. He tired of listening to why he should be going out to have his customers sign one sided buyers’ brokerage agreements. He tired of hearing how he should be selling customers why paying higher commissions, like 7% and 8%, was to their benefit. He tired of hearing how he should sell his clients on why they should be paying hundreds of dollars in additional “transaction fees”. The business had slid way too far from being focused on the customer. His customer. So he decided the time was right to be different…..by design. To start his own unique boutique real estate firm truly focused on his customers. They will now have access to a process focused on them. Only the best marketing techniques to sell their homes. No cutting corners. Commission structures based on his clients needs not his. Paradise Sharks was born out of Tom’s passion to return this business to the customer. Where it belongs. If you want a real estate experience that benefits you, just give Tom a call at 561 308-0175 or send him an e-mail at tom@paradisesharks.com. You can always pay more and receive less but that just would not make any sense. Would it?

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