Interest Rates hit near 40 Year Lows - Tacoma Real Estate
Interest Rates have been a major factor in fueling the Real Estate market. Read through this brief report offered by Keller Williams International.
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According to Freddie Mac, 30-year-fixed-rate mortgage average fell further to 4.87 percent with an average 0.7 point for the week ending Oct. 8 from 4.94 percent last week. "Such low rates are spurring mortgage demand," said Frank Nothaft, Freddie Mac vice president and chief economist, in a statement.
"Interest rates for 30-year fixed-rate loans were the lowest since mid-May; 15-year FRMs were at a record low since data were first collected in 1991 and 5-year ARMs also hit an all-time record starting in 2005. Compared to a year ago, consumers could shave almost $134 off their monthly mortgage payments on a 30-year fixed-rate loan for $200,000 by refinancing.
In addition to spurring mortgage demand, applications were up to a 19-week high over the week ending in Oct. 2, according to the Mortgage Bankers Association - applications to purchase a home were at the strongest pace since the beginning of 2009.
source: Keller Williams
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The Trey Affolter Team at Keller Williams Realty always welcomes comments and is available to answer questions about Tacoma Real Estate and the surrounding cities within Pierce County Real Estate, South King County Real Estate, and North Thurston County Real Estate.
253-222-6000
http://www.TreySellsHouses.com

Trey Affolter * Realtor * 253-222-6000 * www.treysellshouses.com * treyaffolter@kw.com
Your Tacoma Real Estate Professional