Mortgage Interest Rate Changes

I came across this and thought it would go very well with my last blog post.

 "One thing seems certain: we aren't likely to see average 30-year fixed mortgage rates return to the historic lows experienced in 2012."

- Freddie Mac, March 24, 2014

Came across this and felt it went well with my last blog post.

Waiting to buy a home with hopes that the 30-year mortgage interest rates will head back under 4%?

There is probably a greater chance that interest rates will return to the greater than 6% rate of the last decade before they would return to the less than 3.5% rate of 2012.

On Freddie Macs website, http://www.freddiemac.com/blog/research_and_analysis/20140324_dirt_cheap_to_cheap.html, they explain that current rates are still low compared to historic averages: "The all-time record low – since Freddie Mac began tracking mortgage rates in 1971 – was 3.31% in November 2012. Conversely, the all-time record high occurred in October of 1981, hitting 18.63%. That's more than four times higher than today's average 30-year fixed rate of 4.32% as of March 20...rates hovering around 4.5% may be high relative to last year, but something to celebrate compared to almost any year since 1971."

If you are thinking of buying a home, waiting for a dramatic decrease in mortgage rates might not make sense.



If you’re interested in buying home in Carroll County, you can search for all the homes listed for sale online at http://www.RobDRealEstate.com"