Interest rates have been below 5% for all but two weeks this year!

Mortgage and Lending

We all know interest rates have been low for quite some time but did you know that interest rates have been below 5% for all but two weeks this year? The average 30 year fixed rate has fallen again to a record low of 3.94% and the average on the 15-year fixed mortgage fell to 3.21% from 3.27%. That's also a record. Yes home sales are slow, values are way off from their highs a few years ago, but this is great news to pass along. After all its a buyers market and a wonderful opportunity to purchase property at discounted prices with great interest rates.

With so much negativity out there in the housing market we need to look for ways to be positive and pass that along. Interest rates in the 3-4% range sure sounds positive to us! Will home prices stay this low forever? Of course not. Will interest rates rise next year? Good chance. Take advantage of them today!

Posted by

Aloha Mortgage Loans

Comments (1)

Nicole Needham
Needham Realty - Winters, CA
SFR (530) 302-5478

Amazing with Rates Below 5 % all but two weeks this year there should be a buying frenzy going on. Just goes to show you that consumer confidence is more important than rates.

Dec 15, 2011 05:56 AM