Low Mortgage Rates Mean More Buying Power

What’s going on with mortgage rates?

Rates for home loans sank to their lowest level of the year this week as inflation remained stubbornly low and fears about a possible government shutdown mounted, mortgage providerĀ Freddie Mac said Thursday.

The 30-year fixed-rate mortgage averaged 3.86% during the August 24 week, down three basis points to a nine-month low. The 15-year fixed-rate mortgage averaged 3.16%, unchanged during the week. The 5-year Treasury-indexed adjustable-rate mortgage averaged 3.17%, up one basis point.

And look again at this amazing graph!

 

This can’t last forever so take advantage of it. LOW rates mean MORE buying power.

August 25th, 2017 by