With all of the mass media scares about the motgage market, I thought it would be good to see some good news.
According to an article from the Baltimore Sun and Realtor Magazine Online, Mortgage Rates Drop to Two-Year Lows.
According to the article, for the week ending November 29, rates fell to 6.1% on a 30 year fixed mortgage. Also, a 15 year fixed mortgage fell to 5.73% according to Freddie Mac.
Frank Nothaft, the Freddie Mac chief economist, stated that, "...the
decline in mortgage rates to worries about an economic downturn tied to
the weak housing and credit markets, which has pushed down interest
rates on U.S. Treasuries."
We just wanted to share some good news.... It is still a good time to buy a home!