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Interest Rates Slightly Better Than Last Week
Interest Rates Down Slightly; Remain Near Record All Time Lows
Rates down as are inventory levels and sales and overall the south Florida real estate market is doing quite well. In some segments buyers are lined up in multiple offer situations while in others little activity is putting continued pressure on pricing. Understanding the market you are buying into has never been more critical and interest rates play a huge role as they will not stay this low forever. Long term money borrowed today can have a huge impact on your future.
 
As of this morning, the average overnight rate for a fixed 30 year mortgage as reported by Bankrate.com was at 4.04% down 3 basis points from where we stood one week ago. The benchmark 15 year fixed rate standard was at 3.38% up 2 basis points from last weeks level of 3.36% while the benchmark 5/1 adjustable rate mortgage also moved higher by 1 basis point to 3.02% from 3.01%. With rates this low we still have buyers on the fence with many wondering after speaking with lenders why they aren’t quoting the lowest rates they keep hearing about.
 
With the Fed investing in longer term Treasuries ... more

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