We found some great information on the latest news in interest rates this morning and wanted to share. Interest rates are at a 16 month low! For those of you who have been on the fence about buying now is the time to get right on off and find that house! With lower interest rates buyer’s have increased buying power in today’s market meaning they can afford more house with less money!
“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.”
If you plan on buying a home this spring, meet with a local
real estate professional who can help prepare you for today’s market before rates increase!”
Call Logistics Home Team @ 918-359-0220 or message us through the website to get your buying plan in place and to take advantage of these savings. We are here to help with all of your real estate needs.
See the entire article @ https://www.keepingcurrentmatters.com/2019/02/27/interest-rates-hit-new-12-month-low/