Mortgage Rates Plunge To A New Low (4.58%)

By
Real Estate Broker/Owner with Realty Empire Incorporated

Time to Buy... Mortgage rates have fallen to their lowest levels of the last 50 years.

Mortgage rates fell to 4.58% this week on 30-year fixed-rate loans, according to Freddie Mac's weekly survey. That beats last week's mark of 4.69%, which was already the lowest since Freddie's count began in 1971. Average rates on 15-year fixed-rate loans were down to a record-low 4.04%.

Mortgage rates have sunk to the lowest level in more than five decades. The last time mortgage rates were cheaper was the 1950s, when most long-term home loans lasted just 20 or 25 years.

Rates on 15-year fixed-rate mortgages fell to an average of 4.04 percent, the lowest on records dating to September 1991 and down from 4.13 percent a week earlier.

Rates on five-year adjustable-rate mortgages averaged 3.79 percent, down from 3.84 percent a week earlier. That was also the lowest on Freddie Mac's records, which date back only to January 2005.

Posted by

 

Stephanie Leon

Real Estate Broker
Realty Empire

6625 Miami Lakes Dr.
Miami Lakes, FL 33014

Contact me at:
786-664-7710
SLeon@RealtyEmpire.net

 

 

                        

  

 

All Rights Reserved. Copyright 2010-2018 Stephanie Leon Realty Empire 

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Rainmaker
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Pat Champion
Coldwell Banker Camelot Realty - Mount Dora, FL
Call the "CHAMPION" for all your real estate needs

Wow this is great news for buyer's can't believe the rates. One more reason why now is the time to buy.

Jul 02, 2010 02:46 PM #1
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Stephanie Leon | Miami Lakes Realtor®

Turning For Sale Into SOLD!
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