Home buyers are taking advantage of the inventory in Summit County, Colorado and record low interest rates!
The average rate on 30-year fixed-rate home mortgages hit a record last this week, after the Federal Reserve announced it would purchase Treasury securities over the next six months, Freddie Mac's chief economist said on Thursday.
The 30-year mortgage averaged 4.85% in the week ended March 26, the lowest point since Freddie Mac's weekly survey began in 1971. Last week, the mortgage averaged 4.98%; the mortgage averaged 5.85% a year ago.
Fifteen-year fixed-rate mortgages and five-year adjustable-rate mortgages also hit record lows. The 15-year fixed-rate mortgage averaged 4.58% and hasn't been lower since 1991, when the survey began tracking the mortgage. The 15-year mortgage averaged 4.61% last week and 5.34% a year ago.
If you are still interested in pursuing a home in the Colorado Mountains, there is no better time than now! We have great inventory and there are some terrific deals to be had. Please let us know if you'd like to arrange a time to view properties in the near future.
Thank you so much,
Bret and Meredith Amon
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