Mortgage Rates are at a new Yearly Low Today

Miami Area Real Estate

Freddy Mac shared encouraging news on May 21st-mortgage rates are at a new yearly low. If you are ready to buy Miami area homes for sale, and are in need of a mortgage, you can get the cheapest rate if you act quickly. Due to the European debt, Freddy Mac has announced the lower rates.

Miami Real Estate Mortgage

After Germany's move this week to curtail short-selling, investors became spooked and moved money from the risky European debt to safer U.S. securities-the side effect being lower Treasury rates, which then translated to lower mortgage rates.

Miami Homes for Sale

Currently, Miami home buyers can get a 30-year fixed rate mortgage at 4.84 percent, and 15 year fixed rate loans are as low as 4.24, 5 year adjustable rate mortgages are at 3.91 percent, and one-year adjustable rate mortgages at at 4 percent this week (subject to change-always check with your lender on what rates you qualify for). Rates can always fluctuate, even within READ MORE HERE