Freddie Mac released a statement last week stating that mortgage loans have steadily remained at less than 5% for the past 2 weeks. Hitting a record low in the Spring of 4.78 percent, mortgage rates have climbed back down to 4.91 in recent weeks. This is partly due to the Federal Reserve placing over one trillion dollars into mortgage-backed securities in an attempt to lower rates on mortgages and loosen credit.
This is just another reason why real estate is so attractive right now to prospective buyers. If you're on the fence about taking the first steps towards home ownership, now is the time to finally make your move! With low home prices, low mortgage rates, a diverse market and thousands of dollars available in tax credits, there is no better time than now to purchase your first home!
For more information please visit the San Francisco Chronicle
No comments:
Post a Comment