Fannie/Freddie downgraded this week, stock market tumbled, and the Fed’s promise to keep interest rates low until 2013, many have been left wondering what the impact will be on the housing market and, more specifically, how mortgage rates will change. As it turns out, stats shows that today’s 30-year fixed mortgage rate has taken a fall from Tuesday’s 9-month low of 4.14 percent to a new all-time low of 3.92 percent. This rate represents the first time the rate has dropped below 4 percent as well as the lowest rate recorded since April 2008. Prior to today, the lowest rate recorded was 4.07 percent on Nov. 9, 2010.
RE/MAX Advantage South - Hoover, AL
CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL
I am working with a couple that were excited to find out yesterday they qualify for a rate below 4%......we are going shopping this afternoon!
Aug 11, 2011 06:02 AM
Rainer
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Patti Lyles
DIVORCE, SHORT SALE, FORECLOSURE SPECIALIST
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about 10 years ago
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