Mortgage Rates Hit 50 Year Low

Author: Rich Barnhart

Author: Rich Barnhart

According to Freddie Mac’s weekly survey the average rate for a 30-year fixed loan fell to 4.15 percent last week, down from 4.32%. That was the lowest in more than a half century. Frank Nothaft, chief economist for Freddie Mac said, “The Federal Reserve’s policy statement last week and ongoing market concerns over the European debt market carried momentum into this week allowing all mortgage products in our survey to reach all-time record lows.”

Is it time to refinance or perhaps purchase that dream home you’ve always wanted? With interest rates this low and property values down there has never been a better time to buy. Even investors who typically purchase real estate with cash are leveraging their investment properties in order to take advantage of these low rates.

Interest Rates 50 Year Low

Blog Author:

Rich Barnhart

Rich is the broker and owner of By The Sea Realty and a frequent contributor to the company's real estate blog.
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