The latest report from Freddie
Mac shows that the 30-year fixed-rate mortgage averaged 3.61% last week,
slightly down from the week before (3.66%), and nearly 20 points lower than a
year ago (3.80%). This is great news for homebuyers who are dealing with rising
prices due to a low
inventory of homes for sale in many areas of the country. Freddie Mac
expressed their optimism for the rates to remain low throughout the spring in a
recent
blog post:
"We
expect mortgage interest rates to stay well under 4% as we head into the heart
of the spring homebuying season. We're predicting it to be the best one in 10
years, which should provide even greater opportunities for first-time
homebuyers."
Below
is a chart of the weekly average rates in 2016, according to Freddie Mac.
Rates have again fallen to
historic lows yet many experts still expect them to increase in 2016. One thing
we know for sure is that, according to Freddie Mac, current rates are
the best they have been since last April. Sean Becketti, Chief Economist
for Freddie Mac recently explained:
"Since
the start of February, mortgage rates have varied within a narrow range
providing an extended period for house hunters to take advantage of
historically low rates."
Bottom Line
If you are thinking of buying your first home or
moving up to your ultimate dream home, now is a great time to get a sensational
rate on your mortgage. Looking to Buy, Sell, or Invest? Contact:
David Demangos
858.232.8410
Locally Known, Globally Connected
Luxury Home Marketing Specialist
Global Property Specialist
David@AwesomeSanDiegoRealEstate.com
Our Team Goes to Extremes to Fulfill Your Real Estate Dreams!
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