30 Year Fixed Interest Rates Stay Below 4% for 2nd Record Week
For the first time ever, interest rates held below the 4% threshold for an incredible second straight week. It has now been 5 weeks since we saw rates increase which is a great holiday present for borrowers. Bank’s still have plenty of money available to lend despite what one read’s in the press but borrowers must have a good credit history.
As of this morning, the average overnight rate for a fixed 30 year mortgage as reported by Bankrate.com was at 3.93% down 2 basis points from where we stood one week ago. The benchmark 15 year fixed rate standard was at 3.27% down 2 basis points from last weeks level while the benchmark 5/1 adjustable rate mortgage dropped by 6 basis points to 2.85% from 2.91%. Where rates head from here is anyones guess but holding below the 4% mark for the second straight weeks makes lower rates seem more plausible.
“Results Driven Real Estate” is dedicated to providing our readers the most timely information and analysis of the metrics affecting the real estate market. It is this passion for our business and our customers that makes dealing with us different; we care not about closing the deal but ensuring we are helping each client make the right decision based on their individual circumstances. Again, if you are going to borrow money to purchase your home NOW is the time and I beg you not too wait too long. If we can be of help in any way just give Tom a call at 561 308-0175 or send an e-mail to firstname.lastname@example.org and we are most happy to serve you in any way that we can.
Always at Your Service,
Tom Priester e-PRO
“Results Driven Real Estate”
Keller Williams Realty