Record Lows for Fixed Rate Mortgages!

(See Freddie Mac rates below.)

There is little possible downside left, if any, in interest rates although rates may remain flat before rising. This is a truly an exceptional opportunity for those who can find a way to purchase property. We may never again be able to lock-in such low long-term rates along with bargain priced real estate.

For the week ending June 7th the Freddie Mac survey revealed a continuation – now 6 straight weeks – of the recent record decline.

30-year fixed-rate mortgage average 3.67% with 0.7 point. It was 4.49% a year ago.

15-year fixed rate is now 2.94% with 0.7 point, last year: 3.68%.

Paul and Debbie

Source: Freddie Mac