Just In: Mortgage Rates are LOW
Earlier this month, the average rate on a 30-year fixed mortgage fell to 2.98%. According to Freddie Mac, the mortgage-finance giant, it is the lowest level in almost 50 years of record keeping. With rates this low, it allows buyers a fantastic opportunity not only to purchase a new home but to get more bang for their buck. Buyers are finding they are able to buy more home for similar monthly mortgage payments. This is great news for buyers across the board as well as sellers. The lower rates make the previously same priced home more affordable.
For more information on current low mortgage rates see here: