30 Year Fixed Interest Rates Stay Below 4% for 3rd Record Week
After a tremendous holiday weekend it is time to start thinking once again about real estate. Santa Clause made his annual pilgrimage and it was so nice to spend some down time with family and friends. With New Years a few short days away this week will be at less than full pace indeed. As I put together our last interest rate update for 2011 we are very lucky to have the lowest interest rates in our lifetime sticking around.
As of yesterday morning, the average overnight rate for a fixed 30 year mortgage as reported by Bankrate.com was at 3.94% up 1 basis point from where we stood one week ago. The benchmark 15 year fixed rate standard was at 3.28% also up 1 basis point from last weeks level while the benchmark 5/1 adjustable rate mortgage dropped by 1 basis point to 2.84% from 2.85%. Very minor movement but the fact that we held below 4% for 2 straight weeks is certainly significant. it is certainly feasible after holding below this threshold that we could see rates drop even further from these levels.
“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 as rates can switch direction at any time and when they do prices will also be heading in an upward direction. 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