It’s time to check out interest rates, as I haven’t reported on them recently. Historically, interest rates go up in the spring, but we haven’t seen much movement this spring which is good news for Vermont home buyers.
Freddie Mac’s weekly Primary Market Mortgage Survey reports a slight increase in rates this past week due to economic growth outside of the housing market, with a healthy consumer sector and improving business spending.
Interest rates this past week on a 30-year fixed-rate mortgage averaged 6.42 percent compared to the previous week’s rate of 6.37 percent. This time last year, a 30-year fixed-rate mortgage averaged 6.67 percent.
Are you shopping for a mortgage for your Vermont home? This can be a daunting process, but I am glad to refer you to a reputable, knowledgeable and competitive mortgage lender who will take the time to explain your loan options to you. This will allow you to make an educated decision about which home loan is best for you. Just give me a call at 800-659-1819 #103. I’m here to help.
Be sure to visit my website to learn more about mortgages and the home buying process.
Freddie Mac has released the results of its Primary Mortgage Market Survey®. Rates have decline for the first time in six weeks due to signs of moderating inflation.
The rate for a 30-year fixed-rate mortgage averaged 6.17 percent, down from last week when it averaged 6.22 percent. Last year at this time, the 30-year averaged 6.53 percent.
This is great news for Ludlow home buyers. Historically rates inch up during the spring buying season. Now is when the most homes are available for sale and to have rates low is having your cake and eating it too.
Thinking of buying Ludlow real estate? Visit my website to view all Vermont real estate listings or give me a call at 800-659-1819 #103.
The results of FreddieMac.com’s Primary Mortgage Market Survey show a lowering of interest rates for the second week in a row. The average rate for a 30-year fixed-rate mortgage was 6.18% last week, down from the previous week’s 6.24%.
“Mortgage rates drifted lower this week largely on the basis of new economic information suggesting a slower economy and lower inflation,” said Frank Nothaft, Freddie Mac vice president and chief economist.
This drop in rates reinforces last week’s post that it is an excellent time to buy Ludlow real estate. Are you in the market to buy a home? Visit my website to view all Ludlow real estate listings. Or for more personalized service, give me a call, 800-659-1819 #103.
The Federal Reserve Board announced this week that it would keep the the federal funds rate at 5-1/4 percent.
What does this mean for Ludlow home buyers? Mortgage interest rates should remain stable. There was a slight increase in rates in anticipation of the FED announcement, but that slight increase should settle back down again.
If you are in the market to purchase Ludlow real estate and are wondering how much home you can buy at the current interest rates, give me a call. I am glad to talk with you!