Another Mortgage Rate Record Set

Freddie Mac reported just today that the 30-year fixed rate mortgage dropped just below the previous record set last week. The average rate now sits at 3.83% down from 3.84%. While clearly just a minor drop it continues to show affordability is high and a home purchase with rates that low are even more attractive as inflation heads upwards. As inflation increases the cost of that rate is effectively lessened, although until increases in wages resumes this truly can be an overstated point at times. Still, financing is awfully attractive with rates at record lows like these.

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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