Saturday, March 19, 2011

Fixed Rates for Mortgages drop for first time in months!

Very good for you buyers! Read this notice I found in Daily News yesterday:

"Fixed rates for mortgages drop for first time in months.

Fixed mortgage rates tumbled this week and the 15-year loan dipped below 3 percent for the first time in three months.

Freddie Mac said Tuesday the average rate on the 15-year fixed mortgage dropped to 3.97 percent from 4.15 percent. The last time the rate was below 4 percent was in mid-Decembter.

The average rate on the 30-year fixed mortgage fell to 4.76 percent from 4.88 percent the previous week. It hit a 40-year low of 4.17 in November."

One more good reason to buy!

Marianne Leopold

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