How Trusted Professionals Make Homebuying Easier to UnderstandIn the spring, many excited buyers get ready to enter the housing market. Others continue dreaming about the homes they’d like to
Interest Rates Hit New 12 Month Low
Dated: 02/27/2019
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Interest Rates Hit New 12 Month Low!
According to Freddie Mac’s Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at their lowest for 2019. Rates like these haven’t been seen since February 2018!
Last week’s survey results reported an interest rate of 4.35%. This is a welcome change from the near 5% rates seen in mid-November. At 4.32%, the second week of February 2018 was the last time rates were this low. This can be seen in the chart below.
Freddie Mac’s Chief Economist, Sam Khater, had this to say:
“Mortgage rates fell for the third consecutive week, continuing the general downward trend that began late last year.
Wages are growing on par with home prices for the first time in years, and with more inventory available, spring home sales should help the market begin to recover from the malaise of the last few months.”
Bottom Line
If you plan on buying a home this spring, meet with a local real estate professional who can help prepare you for today’s market before rates increase!
Eric S. Stegall
Thank you for visiting my website. I've been helping families find their place at the the lake for almost two decades. I love introducing new customers and clients to this beautiful area, I get to cal....
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