Interest Rates Falling Again

Average interest rates on 30-year fixed mortgages fell again this past week to 4.87% which was down from the previous week’s 4.95%. Concerns that rising oil prices due to the uprising in Libya may impact consumer spending has spurred investors into bonds and Treasury notes. Typically these markets track closely with interest rates. Other mortgage products seeing declines were the 15-year fixed falling from 4.22% to 4.15% and the 5-year ARM declined to 3.72% from 3.80%.

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.

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