Interest Rates Just Hit A New 12 Month Low!

Interest Rates Just Hit A New 12 Month Low!

According to Freddie Mac’s Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at their lowest for 2019. Rates like these haven’t been seen since February 2018!

Last week’s survey results reported an interest rate of 4.35%. This is a welcome change from the near 5% rates seen in mid-November. At 4.32%, the second week of February 2018 was the last time rates were this low. This can be seen in the chart below.

Freddie Mac’s Chief Economist, Sam Khater, had this to say:

“Mortgage rates fell for the third consecutive week, continuing the general downward trend that began late last year.Wages are growing on par with home prices for the first time in years, and with more inventory available, spring home sales should help the market begin to recover from the malaise of the last few months.”

Bottom Line

If you were thinking about buying or selling a home this spring, meet with a Real Estate Advisor | REALTOR® from Martin Real Estate Advisors | United Real Estate who can help you through a purchase or sale of a home today while maximizing your return-on-investment before the rates increase! Call us at 469-262-5411 to get started or just complete the GET IN TOUCH form on this page and we will help you get started!