According to an article in Inman this morning, mortgage rates have gone from 4.28% to 4.06% for a 30-year fixed mortgage. According to the article this is the largest drop in 10 years. Sam Khater (of Freddie Mac) said the drop is a result of the Federal Reserve's forecasted drop in economic growth. This move is hoped to spur a rise in home sales for the spring season. Jobs continue to grow which should also help the housing market to heat up after its recent slow down. I included a link below to the article.
If you are thinking of buying a home, now is a good time.
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The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.
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