Mortgage interest for the past week held fairly close to the previous week's rates, reports Freddie Mac. Average interest on 30-year fixed loans slipped a notch to 4.98 percent from 4.99 percent and was down from 5.10 percent a year ago. While still higher than the historic lower of 4.71 percent established in early December, long-term mortgage rates have hovered around a very favorable 5 percent thanks to the Federal Reserve's mortgage-backed securities program meant to keep rates low and make home buying more affordable. The central bank's policymaking committee confirmed on Jan. 27 that it will keep rates near those record lows in order to prop up the economy; but it still plans to terminate the program at the end of March.
[SOURCES: Freddie Mac; Information, Inc.]
[SOURCES: Freddie Mac; Information, Inc.]
If you're thinking of buying or selling, please consider meeting with us for a no obligation consultation. Low interest rates and the extension of the home buyers' credit make for a great buying/selling opportunity.
The NO BULL Team
Marianne and Dwayne Smith
615-517-6560 or 615-509-2428
Or Office 615-822-8585
Keller Williams Realty, 100 Bluegrass Commons, Ste. 2100, Hendersonville, TN, 37075
Each office is independently owned and operated.
