According to the latest Freddie Mac weekly mortgage market survey, mortgage rates have dropped to record lows once again. As of July 29th, the average commitment rate for a 30 year fixed rate loan was 4.54%. The rate for a 15 year fixed rate loan was 4%. Here's the trend over the last 20 weeks.
With a new buyer's market and record low rates, today's buyers are getting better deals than those who participated in the home buyer tax credit several weeks ago.
Have a great weekend,
Dan Miller, Realtor, Keller Williams Realty and www.DaneCountyMarket.com