Mortgage rates continue to fester at record lows

Posted on 06/08/12 No Comments

So, it’s good news when housing is affordable. However, it also means that not as many people are buying.

Nevertheless, housing costs are at a level that should be celebrated for anyone who’s ever wanted a home to call their own. Sure, it may cost a little more upfront than it did a few years ago, but that’s always been the point, really. You save for a down payment, and the bank will help you with the rest. It’s a time-honored business activity that has been responsible for millions of Americans enjoying the comforts of quiet neighborhoods, friendly cul-de-sacs, convenient commutes and a growing family.

Mortgage rates are well under 4 percent for 30-year loans, currently available at 3.67 percent, down from 3.75 percent only a week ago, according to The Associated Press. That’s lower than rates were in the 1950s. (Those looking to refinance should do so as soon as possible. Fifteen-year rates are at 2.94 percent!)

On top of low rates, housing prices continue to be very attractive. The Triangle is one of the best performing markets in the country, so the value is unmistakable, especially when you consider just how much our area has to offer.

Please let us know how we might be able to help you better understand this highly attractive home buying market or if you just want to visit one of our listings.

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