30 year Mortgages Hits Record Low Rates
Washington Post reported today May 11, 2012
Average US Rates for 30 year and 15 year fixed mortgages fell to fresh record lows this week, making home-buying and refinancing more affordable than ever for all those who can qualify. Mortgage buyer Freddie Mac says the rate on the 30 year loan ticked down to 3.83%. That’s the lowest since long term mortgages began in the 1950s and even fell below the previous record rate of 3.84% reached last week. Here in my city, Huntsville Al. some private banks have portfolios with interest rates lower than the National Average. Simply ask me which Bank program is the best for your personal financing type.
The 15 year mortgage, a popular option for refinancing, dropped to 3.05% also an all time record low. That rate is down from last week’s previous record low of 3.07%.
Finally National and Local media are switching their tune from doom and gloom in regards to the real estate industry and telling the hard facts. Here in my city Huntsville, Alabama, the market has increased over al sales for Madison County by 17% from 2010 to 2011. As well as 2012 has strong signs of a solid market that’s in full recovery since the foreclosure crisis in 2008 began.
Now is as good a time as ever to purchase or sell a home. Even if your still several months away from a decision or are in need of credit repair. Please don’t hesitate to contact me and I will guide you every step of the way to ensure you are educated before making a selling or buying decision.
Exit Realty of the Valley
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