Summer is heating up...but we're still seeing record lows!

I'm going to keep this short and sweet and let the data speak for itself. If you've been thinking about getting into a new home and will be financing that purchase then you are in luck. We're still witnessing record level housing affordability.

"The average rate for a 30-year fixed mortgage dropped to 3.78 percent in the week ended today from 3.79 percent, Freddie Mac said in a statement. It was the lowest in the McLean, Virginia-based mortgage-finance company’s data dating to 1971. The average 15-year rate held at 3.04 percent, also a record."

 

Image(s): FreeDigitalPhotos.net

If it makes sense for you to obtain financing then now is the time. There literally has never been a better time in history. Take advantage of that so you can brag to your friends and family in 15-20 years when you show them the ridiculously low rate that you've got locked in. 

 

Kenny Ochs

The Todd Tramonte Home Selling Team

 

 

http://www.businessweek.com/news/2012-05-24/mortgage-rates-for-30-year-u-dot-s-dot-loans-fall-to-a-record-low-3-dot-78-percent