Mortgage Rates Still at Their Lowest

A report from Freddie Mac stated that the 30 year fixed-rate mortgage sat at a 3.61% average last week, which is lower than the 3.66% from a week before and almost 20 points lower than the 3.80% recorded a year ago.

Home buyers will be happy to hear this news amidst the rise of prices from a low inventory in most areas of the nation. Freddie Mac expressed optimism in the current situation, forecasting that mortgage rates will remain low through the spring. In his post he stated:

“We expect mortgage rates to stay well under 4% as we head into the heart of the spring home buying season. We’re predicting it to be the best one in 10 years, which should provide even greater opportunities for first-time homebuyers.”

Mortgage Rates still at their Lowest

Mortgage rates are again sitting at historic lows; however, experts are still forecasting rates to rise this year. Freddie Mac emphasizes that mortgage rates are at their best since the month of April.

Bottom Line

If you are ready to buy a home, the time to act is now. Use these informative buying tips to get started!

If you’re home shopping in the Belmont area, message us here to help you find your dream home in the perfect area or give us a call at 704.997.3794 to speak with one of our professional agents.

If you decide you don’t like your home we will sell it for free. *some conditions apply*

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