How Low Can They Go?!

Interest rates continue to stay EXTREMELY low! At the end of this past week rates for 30-year fixed rate mortgage were 3.99% with an average of 0.7 points according to Freddie Mac. By comparison last year at this time the interest rate on the same product was a still very attractive 4.61%. Even lower rates are achieved with a 15-year fixed rate mortgage, averaging this last week 3.27% with 0.8 points. Hopefully rates continue to stay low in the near future, but eventually these record setting rates will have to climb and make purchasing a home with financing more expensive.

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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