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Never Before Seen LOW Average Mortgage Interest Rates! Incredible!
Today, 10/4/2012, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgages was 3.36% down from 3.40% last week. The average interest rate for 15 year fixed-rate mortgages was 2.69%, down from 2.73 last week. A year ago the 30 year rate was 3.94%.
 These interest rates for mortgages that we have NEVER seen before in our country. Can you imagine how nice it would be to lock in that rate for the next 30 years? Are any of you trying to take advantage of this rare opportunity? Home prices are starting to rise here and in other parts of the country. Inventories are low and we even see bidding wars breaking out from time-to-time. We have not seen that in a LONG time. Don't get shut out if you are seriously considering making a home purchase. Get off the fence and your duffs and start looking at possibilities!
Here are some examples of the positive effects that Freddie Mac's spokespersons cited: "Fixed mortgage rates fell again this week to all-time record lows due to the mortgage securities purchases by the Federal Reserve and indicators of a weakening economy. The final estimate of growth in Gross Domestic Product was revised down ... more

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