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Vero Beach Blog by Chris Butler

By Chris Butler | Broker in Vero Beach, FL

Mortgage Rates Fell Again This Week

The average rate on the 30 year fixed mortgage fell to 4.76% from 4.88% the previous week. It hit a 40 year low of 4.17% back in November and went as high at 5.05% in February of this year.

The 15 year loan dropped below 4% for the first time in three months. The average rate on the 15 year fixed mortgage, a popular refinance option, dropped to 3.97% from 4.15%. The last time the rate was below 4% was in mid-December.  It dipped to 3.57% in November, the lowest level on record since 1991.

Mortgage rates follow the yield on U.S. Treasury bonds, which dropped due to worries that the crisis in Japan could slow economic growth.

For up to the minute rates in Florida, visit my website at www.villarealtyassociates.com

Call or text me at 772-360-4572 or e-mail me at chris@villarealtyassociates.com to find your new dream home and take advantage of these low rates and housing prices.

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