Freddie Mac reported that average mortgage rates for 30-year fixed loans hit an all-time low of 4.69% this week after being at 4.75% the week before. This is very encouraging news for buyers in the market today as this represents tremendous savings per month for a typical mortgage. Unemployment concerns still linger though and demand hasn’t risen tremendously for mortgages largely because of the uncertainty in the job market. Those in a position to buy and with a need shouldn’t grow complacent with the recent low rates as they will not be around forever. Interest rates are a key factor in housing affordability and these tremendously low rates can offset even a further price reduction in the long term.
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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