Mortgage Rates Remain At Historic Lows

Dated: 05/19/2016

Views: 133

Mortgage Rates Remain at Historic Lows | Simplifying The Market

Mortgage Rates Remain at Historic Lows

 

The latest report from Freddie Mac shows that the 30-year fixed-rate mortgage averaged 3.61% last week, slightly down from the week before (3.66%), and nearly 20 points lower than a year ago (3.80%).

This is great news for homebuyers who are dealing with rising prices due to a low inventory of homes for sale in many areas of the country. Freddie Mac expressed their optimism for the rates to remain low throughout the spring in a recent blog post:

“We expect mortgage interest rates to stay well under 4% as we head into the heart of the spring homebuying season. We're predicting it to be the best one in 10 years, which should provide even greater opportunities for first-time homebuyers.”

Below is a chart of the weekly average rates in 2016, according to Freddie Mac.

Mortgage Rates Remain at Historic Lows | Simplifying The Market

Rates have again fallen to historic lows yet many experts still expect them to increase in 2016. One thing we know for sure is that, according to Freddie Mac, current rates are the best they have been since last April.

Sean Becketti, Chief Economist for Freddie Mac recently explained:

“Since the start of February, mortgage rates have varied within a narrow range providing an extended period for house hunters to take advantage of historically low rates.”

Bottom Line

If you are thinking of buying your first home or moving up to your ultimate dream home, now is a great time to get a sensational rate on your mortgage.


Bradenton FL Real Estate Professional -Betty Burg


Betty is a motivated realtor specializing with investors, new home buyers, and move up buyers located in the following areas;Anna Maria Bradenton Bradenton Beach Cortez Ellenton Englewood Holmes Beach Lakewood Ranch Lakewood Rch Longboat Key Myakka City Nokomis North Port North VeniceOsprey Palmetto Parrish Sarasota Siesta Key Terra Ceia University Park Venice and surrounding areas. If your a buyer check out ourBuyers Advantage Program designed to protect the interest of our buyers at all cost. Bill Burg uses advanced internet marketing to insure your property gets maximum exposure and holds a high value of ethics in his work to ensure the ideal scenario for everyone! I am so confident in our ability to sell your home "I GUARANTEE it". Find out about Seller Guarantee. For help with buying or selling a property call 941-444-0018!

Latest Blog Posts

Buying A Home Is More Affordable Than Renting In 54 Of US Counties

According to ATTOM Data Solutions’ 2018 Rental Affordability Report, “buying a median-priced home is more affordable than renting a three-bedroom property in 240 of 447 [or 54% of] U.

Read More

Where Did Americans Move In 2017 INFOGRAPHIC

Some Highlights: Atlas Van Lines recently released the results of their annual Migration Patterns Survey in which they tracked their customer’s movement from state-to-state over

Read More

13 Simple Money Moves You Should Make Before The End Of The Day

13 Simple Money Moves You Should Make Before the End of the DayTHE PENNY HOARDERDECEMBER 1, 2017Renato Arap/Getty ImagesDISCLOSURE:Some of the links in this post are from our sponsors. We're letting

Read More

BEST TIP TO FIRST TIME BUYERS ACT FAST

Best Tip to First-Time Buyers: Act FastDAILY REAL ESTATE NEWS | MONDAY, MAY 14, 2018A shortage of homes for sale and rising home prices are making it challenging for first-time buyers, in,

Read More