Mortgage Rates Hit Historical Lows - Again 

At 4.58 percent for an average 30-year fixed rate loan mortgage rates are at levels unseen in more than half a century.  The last time rates were lower than this was in the 1950s at a time when most home loans lasted only 20 to 25 years. 

15-year fixed rate loans have also hit a new record at 4.04 percent. Rates on hybrids fell to 3.79 which are pretty much equal to the average rate on a 1-year ARM which is now at 3.8 percent.  The 1-year ARM was the only loan program that did not hit a new record this week. 

While home prices are not as low as they were during the fifties, there are some great values right now in many of the Metrowest Massachusetts towns for first time home buyers as well as move up home buyers.

Hopkinton currently has 12 homes on the market in the $300,000 to $400,000 price range, 19 listings in the $400,000 to $600,000 range and 28 homes in the $600,000 to $800,000 range. 

Southborough has 11 homes in the $600,000 to $800,000 price range, 11 homes listed in the $400,000 to $600,000 range and 11 properties available in the $300,000 to $400,000 range. 

In Ashland there are currently 12 homes available in the $300,000 to $400,000 range, 21 homes in the $400,000 to $600,000 price range and 7 in the $600,000 to $800,000 price range.  A number of these homes are new construction. 

Natick currently has 30 listings in the $300,000 to $400,000 range, 29 listings in the $400,000 to $600,000 range and 18 properties in the $600,000 to $800,000 price range.

If a new home is in your immediate future, you have chosen a great time to buy.  Reasonable prices and availability are in your favor right now in Massachusetts and the low mortgage rates will stretch your dollar even further.

Copyright 2010 "Morgage Rates Hit Historical Lows - Again"

Subscribe to my blog

Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230

Find the Right Buyer Broker in MetroWest Massachusetts

MLS Property Search With No Registration Required