Interest rates. Every one wants a good one, as they should, and more importantly they want to know: what are the current rates and are they going to stick around?
Interest rates for a 30-year fixed rate mortgage have been on the decline since November, now reaching lows last seen in January 2018. According to Freddie Mac’s latest Primary Mortgage Market Survey, rates came in at 4.12% last week!
This is great news for anyone who is planning on buying a home this spring! Freddie Mac had this to say,
“Mortgage interest rates have been steadily declining since the start of 2019. These lower mortgage interest rates combined with a strong labor market should attract prospective homebuyers this spring and could help the housing sector regain its momentum later in the year.”
To put the low rates in perspective, the average for 2018 was 4.6%! The chart below shows the recent drop, and also shows where the experts at Freddie Mac believe rates will be by the end of 2019.
If you plan on buying a home this year, let’s get together so that we can start your home search to ensure you are able to lock in these historically low rates today! The lower the better my friends, saving you money in the long run and helping to pay off that mortgage sooner!
*If you have any questions, please contact me, Kristi Harden, today at 951.704.6370 or firstname.lastname@example.org
*Information provided by my trusted and verified source, KCM.com