Our team likes to stay abreast of any changes concerning real estate transactions so that we may inform our clients. On Thursday, March 26th, mortgage giant Freddie Mac announced that that the national average for a 30-year fixed-rate mortgage declined to 3.69 percent from 3.78 percent the previous week.
The average 15-year mortgage fixed-rate also fell to 2.97 percent, this is more popular for homeowners looking to refinance. Both of these rates are almost at historical lows, making this an opportune time to make a move in the real estate market.
For a base of comparison, a year ago the average rate for a 30-year mortgage was at 4.40 percent and the 15-year mortgage at 3.42 percent. Speculations last year were that the interest rate would increase following the end of the Federal Reserve’s monthly bond purchases in October, but thus far the rates have remained consistently low.
Any client of ours can attest to our team’s dedication even after the transaction is complete. Whether you have a question regarding the real estate industry or need information on local resources, we’re always happy to help.