Interest rate drop fuels demand...

 



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.

With smiles,

Bo in Yukon

 
This post has been included in Oklahoma Information Canadian County, OK Information
Post is included in group: The Lounge at Active Rain
Post is included in group: Oklahoma Real Estate
Post is included in group: Free Real Estate Tips and Information
Post is included in group: First Time Homebuyer
Post is included in group: Everything OKLAHOMA

4 Comments on Buyers - are you ready to act? by Bo Kociuba, Yukon Realtor, www.Okla-OK.com

OCT
11
385,623 Points 9 Featured Posts Outside Blog

Interest rates cannot remain low forever.  If someone can take advantage of these low rates, this would appear to be the time to do it!

10:43pm • #1
OCT
12
1 Featured Post Outside Blog

Judi - they are historically at the lowest point...no one can time the market...the time to act is now...

With smiles,

Bo in Yukon

9:11am • #2
190,952 Points 1 Featured Post Outside Blog

Excellent news Bo!  Better get out there and buy a new pair of running shoes!  Good luck!

12:22pm • #3
1 Featured Post Outside Blog

A&P - indeed it is good news...running shoes? for moi? eh...i wear boots and getting pretty good mileage LOL...

with smiles,

Bo in Yukon

5:45pm • #4

Leave a response…



(optional)
What does the graphic say?
 
Bo-small_edited-5 Rainmaker_large

Bo Kociuba

Yukon, OK

More about me…

Keller Williams Realty-Yukon, OK

Address: 1773 Garth Brooks Blvd. , Yukon, OK , 73099

Cell Phone: (405) 812-1572

Email Me

Enter your email address:

Delivered by FeedBurner


By TwitterButtons.com


Links

Archives

RSS 2.0 Feed for this blog

Find OK real estate agents and Yukon real estate on ActiveRain.