Interest Rates Hit All Time Low
This past week, rates for a 30 year fixed rate mortgage fell below 5 percent. This was mainly caused by the Federal Reserve putting more funds into mortgage backed securities held by Fannie Mae and Freddie Mac.
There are still some problems in home financing these days, but this definitely helps. If rates will stay low, it will help more people afford a home. As I keep saying, it’s a heck of a time to be home shopping.
Filed under: Buying, Home Sales, Mortgage and Lending by Dwight's Real Estate Update