WOW!!! Mortgage rates are at there lowest levels in THREE Months. A 30-year fixed-rate mortgage average 5.12%. Last week the average was 5.29%. This time last year a 30 year Fixed-Rate- Mortgage averaged 6.47%.
The 15-year Fixed- Rate mortgage averaged 4.56% down from 4.68% from last week. A year ago at this time the 15 fixed-rate-mortgage averaged 6.00%
Low mortgage rates are helping to reinforce the housing market. New construction on single-family homes rose for the fifth consecutive month in July 2009. This is the most since October 2008.
This is great information for all buyers and sellers currently in the market place. Buyers need to buyer at these great mortgage rates and sellers will be able to sell faster with great mortgage rates. Everyone is a winner!!!!!
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