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Interest Rates Hit New 12 Month Low!

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Interest Rates Hit New 12 Month Low!

David Bartels

Meet David Bartels - Selected as one of America's Top 100 Real Estate Agents, he is among the Top 1% of of all agents nationwide and leader of the #1 ...

Meet David Bartels - Selected as one of America's Top 100 Real Estate Agents, he is among the Top 1% of of all agents nationwide and leader of the #1 ...

Mar 1 2 minutes read

According to Freddie Mac’s Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at their lowest for 2019. Rates like these haven’t been seen since February 2018!

Last week’s survey results reported an interest rate of 4.35%. This is a welcome change from the near 5% rates seen in mid-November. At 4.32%, the second week of February 2018 was the last time rates were this low. This can be seen in the chart below.

Freddie Mac’s Chief Economist, Sam Khater, had this to say:

“Mortgage rates fell for the third consecutive week, continuing the general downward trend that began late last year.

Wages are growing on par with home prices for the first time in years, and with more inventory available, spring home sales should help the market begin to recover from the malaise of the last few months.”


Bottom Line

If you plan on buying a home this spring, meet with a local real estate professional who can help prepare you for today’s market before rates increase!

Want to Learn More?

Call us at 805-379-3300, Text to 818-962-4150 or click the button below to learn more about special financing programs, especially for 1st-time home buyers!

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