Mortgage rates remain at impressive lows

Posted on 11/10/11 No Comments

30-year mortgage rates below 4 percent in the TriangleThe average rate for a 30-year mortgage is now 3.99 percent, marking only the second time in history the standard loan for home buyers has been below the 4 percent benchmark. The first time was a little over a month ago, when the rate was 3.94 percent.

Without getting too deep into financial theories and issues, apparently the issues with the European economy are what led to the drop. All we know is, the American home buyer is in a terrific position.

The Triangle home market is recognized nationally as one of the best, namely because you can get quite a bit for your money: yards, privacy, garages, bonus rooms, great schools, proximity to parks and retail and easy commutes, just to name a few benefits of the lifestyle here. And at rates below 4 percent, you can get even more than that.

If we can answer any questions about lending, home buying or re-financing, just give us a shout at 919/244-7906 or 919/609-8095.

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