Mortgage rates have hit a new record low for the 10th time in 11 weeks as investors continue to turn to Treasury bonds as a safe haven; the shift in money is cutting yields, which mortgage rates tend to follow.
Freddie Mac reports that 30-year fixed loans averaged 4.32 percent, down from 4.36 percent a week ago; and the 15-year fixed rate fell to a new low of 3.83 percent, down from 3.86 percent.
This news is better than the first time buyer credit that expired earlier this year. At these rates you will save more than the 8K on a home purchase. Give me a call or check my recommended lender list for a trusted lender to help you.
Have a great holiday weekend. I plan to join the group in Royal Oak. Be safe!!!!!
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