Reprinted from: Daily Real Estate News September 12, 2008
"For the first time since early spring, mortgage rates have fallen below the 6-percent threshold. Freddie Mac reports that 30-year fixed loans came in at an average of 5.93 percent this week, down from 6.35 percent a week ago and 6.31 percent at the same time last year. A borrower taking out a $200,000 mortgage at 5.93 percent would pay $1,190 for monthly principal and interest payments, which is $54 less than the payments on last week's rate. "Consumers see a five in front of mortgages, and they get excited," says Keith Gumbinger, a vice president at research firm HSH Associates. "
Single adults face unique challenges when buying and selling a home. I know because I've done it myself, & a significant portion of my clients are single. This blog provides news & information you need to help you achieve your real estate goals. Alice Kuder, REALTOR®, Green. Prudential Northwest Realty Associates, Seattle, WA
1 comment:
It's a shame more buyers don't realize that a lower mortgage rate could save them thousands more in the long run as opposed to a cheaper ticket price. Paying $54 less a month really adds up to monumental savings, especially over a 30-year loan.
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