Not only are there a gazillion houses on the market, the interest rates continue to DROP. This is amazing! If you have good credit and a down payment, now is the time to buy your dream house. Sellers are absolutely giving buyers ANYTHING they want. I've heard about Plasma TV's, furniture, closing costs and all kinds of things being thrown in the pot when contracts are written! Good grief. What the heck are you waiting for? Call me today 904-241-2386 or 904-885-9907 and let's get out there and get you a house AND a riding lawn mower (or whatever it is you need) and close the deal!
Rates on 30-year mortgages drop to the lowest point in 3 months
Mortgage Rate Trend Index
If mortgage industry experts polled by Bankrate.com are right, mortgage rates will decline over the next 30 to 45 days. While 23 percent expect no change, 77 percent foresee a decline and none predict an increase.WASHINGTON – Aug. 31, 2007 – Rates on 30-year mortgages fell this week to the lowest level in three months.Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.45 percent. That was down from 6.52 percent last week and was the lowest level since the week of May 31, when rates stood at 6.42 percent.The moderation provides welcome news for prospective homebuyers, many of whom are finding it harder to obtain loans as lenders tighten up on borrowing standards in the face of rising loan delinquencies.Rates in other mortgage categories were mixed last week.Rates on 15-year fixed-rate mortgages, a popular choice for refinancing, averaged 6.12 percent, down from 6.18 percent last week.