Mortgage Rates in Oklahoma City are Still Low

If you are considering buying an Oklahoma City home, now is the time, while mortgage rates in Oklahoma City are still low.

Recent news at Realty Times indicated the Primary Mortgage Market Survey, released by Freddie Mac, shows the 30-year fixed rate again increased for the third successive week. This particular mortgage rate climbed to 4.87 percent.

A 15-year fixed-rate mortgage is averaging 4.10 percent with weekly increases of .01 percent.
Reports from Frank Nothaft, Freddie Mac Vice President and Chief Economist, offer hope for home buyers. The rates are reflective of employment changes from the Bureau of Labor Statistics. Over 200,000 jobs were added in March; unemployment rates fell for the fifth month in a row showing the lowest rate in two years. Private corporate jobs increased by over 550,000 workers - the largest boost since 2006 first quarter.

What does this mean for you, the consumer? Figure out how much house you can afford, how much money you have for a down payment, and if it's feasible, start looking now. Check with your real estate agent on houses, neighborhoods and financial institutions.

The country's economy is positively moving forward. Mortgage rates will increase, but money is definitely available for potential buyers. Housing prices are down; housing supply is good. Right now is an excellent time to buy and get in on the low interest rates.

If I can help you with finding your perfect home in Del City, Edmond, Shawnee, or Oklahoma City, please contact me online, give me a call at 405-366-1111,   or check out my website.