Mortgage rates on the average 30 year fixed loan dropped from 6.13% to 5.87% and the average 15 year mortgage fell from 5.6% to 5.27%.
It is a breath of fresh air for many buyers who were not seeing mortgage rates come down much even though the Federal Reserve has dropped the short-term interest rate several times in the past few months. This is a good sign that the Fed's efforts to stimulate the economy are starting to take effect.
Depending on your loan amount, this could significantly lower your payment by thousands or tens of thousands of dollars over the life of your loan.
With the South Florida real estate market being the hardest hit in the nation combined with favorable mortgage rates and falling property taxes, it creates a perfect storm for buyers to buy now. Whether buying a condo, townhouse, villa, or single family home it is a great time to seriously think about buying property.
Sellers should take heart with this great news too. Once buyers realize that it is the perfect time to buy the prices will level off and then start to rise again, providing some much desired relief from doomsday real estate predictions.
Visit Wieder Realty's website for a complete list of our properties for sale in Palm Aire Country Club at http://www.palmairerealestate.com/HomesAuthenticated.aspx?tabid=2024054
You can also see properties for sale throughout all of Pompano Beach, by clicking here http://www.pompanohomesearch.com/content/featuredlistings.html?ag_id=347232&featuredproperty=1
Contact Wieder Realty for more information regarding buying and selling property for sale and properties for rent in Palm Aire, Pompano Beach, Fort Lauderdale, and the rest of South Florida.
954-978-8300 Local
800-634-1265 Toll Free
Info@Palm-Aire.com Email
Wieder Realty is located right out side Palm Aire, between Walgreens and the Isle Casino. Feel free to stop by and visit us at 900 S Powerline Road Pompano Beach, FL 33069
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