The AP published an article on October 6th that we discussed at our office Marketing Meeting today.  A summary:

“The average rate on a 30-yar fixed mortgage has fallen below 4 percent for the first time in history.”

“On Thursday, Freddie Mac said the rate on the 30-year fixed mortgage fell to 3.94% from 4.01% last week, the previous low.  The average rate on a 15-year fixed loan, a popular refinancing option, dipped to 3.26%, also a record”

“Mortgage rates are now lower than they were in the early 1950s. The average rate reached 4.08% for a few months back then, according to the National Bureau of Economic Research.”

All-in-all, if you’re in the search for a home, call our office and let us help you out!  If your rate is higher than 5%, might be a good time to call your banker to see if refinancing makes sense.

To review the full article, here is the link:  http://hosted.ap.org/dynamic/stories/U/US_MORTGAGE_RATES?SITE=CACHI&SECTION=HOME&TEMPLATE=DEFAULT

 Contact one of our experienced agents to help you through the home-buyer or selling process!  Learn more about us and “Like” us on facebook too!