LOW Rates Set New Record!
Mortgage interest has fallen to the lowest level since Freddie Mac began compiling its weekly survey in 1971,as the average 30-year fixed rate declined to 4.71 percent last week from 4.78 percent a week earlier.
Rates also were more attractive for 15-year fixed loans,which fell from 4.29 percent to 4.27 percent,but many consumers may not have qualified for them because they now face higher credit standards from lenders.
Still,the Mortgage Bankers Association’s index of application demand,which rose 2.1 percent on a seasonally adjusted basis during Thanksgiving week from the previous week,shows that consumers were looking to take advantage of mortgage rates at a historic low.
[SOURCES:Freddie Mac;Information,Inc.]
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-- Mack Meeks CENTURY 21 Mid-State Realty L.L.C. 1810 Sharp Springs Road,Winchester,TN 37398 Office:931-967-4321 Fax:931-967-9378 Cell:931-808-8661 www.mackmeeks.com mackmeeks@century 21.com
