The thirty year fixed mortgage rates saw an epic low this week! The 30-year fixed mortgage fell to 3.88 percent this week, down from the older record set last week. (3.89) This is the eighth record low in a year.
Fifteen year mortgages rose ever so slightly from 3.16 percent to 3.17 percent. These numbers are also record lows. When we say “record lows,” realize that mortgage rate records date back to the 1950s, so these numbers are truly amazing.
New Home builders are anticipating the that the low rates will boost sales in 2012. “Low mortgage rates were cited as a key reason the National Association of Home Builders survey of builder sentiment rose strongly in December and January.”
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Foster@HomesofSummerville.com
1-843-974-6029
Information gathered from Yahoo Finance
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