Interest Rates Remain Low
The knowledgeable and experienced agents of Fridrich & Clark Realty are ready to assist you with your 2012 home selling or purchasing needs. There is no better time to enter the housing market as now while 30-Year rates remain below 4%.
Average interest on long-term fixed mortgages closed out 2011 near record lows, with the 30-year rate settling at 3.95 percent for the week ended Dec. 29 compared to 3.91 percent a week earlier and 4.86 percent a year ago. The 15-year fixed rate, meanwhile, came in a 3.24 percent — up from 3.21 percent the previous week but down from 4.20 percent during the same week in 2010. Adjustable-rate mortgages also were slightly higher last week but markedly lower than a year earlier. Five-year ARMs bumped up to 2.88 percent from 2.85 percent but held below last year’s average of 3.77 percent; and one-year ARMs edged up to 2.78 percent from 2.77 percent while remaining far from the 3.26 percent rate that prevailed a year ago.
[SOURCES: Freddie Mac; Information, Inc.]