Mortgage Rates Continue With Record Lows

This past week marks the eighth time in the last nine weeks that mortgage rates have continued to decline and hit record lows. According to Freddie Mac the average 30-year fixed loan interest rate was 4.36% which is down from 4.42% the week before. Rates for 15-year fixed rate loans also hit a new low of 3.86% down from the previous weeks of 3.90%. These record low interest rates are an enormous incentive for those considering purchasing a home to take action. Coupled with substantially reduced prices it is undobtedly an attractive time to be making a real estate purchase. Even should homes see any additional modest decline in pricing, the advantages of securing a phenomenal interest rate can easily outweigh the overall price should rates increase. For those considering a purchase, right now may well be the ideal time to move forward.

Stephen Woodall

REALTOR, GRI @ Long Realty Company

Stephen has made real estate his full-time career and passion since 2008, primarily specializing in the Foothills & the Northwest Tucson areas of Oro Valley and Marana. He is a multi-million dollar producer, representing both sellers & buyers. Stephen has tremendous experience in new home sales, listing & selling primary residences, listing & selling vacant land, listing & selling luxury homes, investment properties, rentals, and real estate development parcels.