Interest Rates Hit New 12 Month Low

Dated: 02/27/2019

Views: 83

Interest Rates Hit New 12 Month Low! | MyKCM

According to Freddie Mac’s Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at their lowest for 2019. Rates like these haven’t been seen since February 2018!

Last week’s survey results reported an interest rate of 4.35%. This is a welcome change from the near 5% rates seen in mid-November. At 4.32%, the second week of February 2018 was the last time rates were this low. This can be seen in the chart below.

Interest Rates Hit New 12 Month Low! | MyKCM

Freddie Mac’s Chief Economist, Sam Khater, had this to say:

“Mortgage rates fell for the third consecutive week, continuing the general downward trend that began late last year.

Wages are growing on par with home prices for the first time in years, and with more inventory available, spring home sales should help the market begin to recover from the malaise of the last few months.”

Bottom Line

If you plan on buying a home this spring, meet with a local real estate professional who can help prepare you for today’s market before rates increase!

 Relocating to SWFLA?  Contact Me TodayCharlotte County's Real Estate Expert

Blog author image

Leo Albanes

I am a Licensed Florida Real Estate Broker, Realtor®, and Owner of Charlotte County Properties Inc for over 16 years. In that time, I have received many review, awards and testimonials demonstrating....

Latest Blog Posts

Make Homebuying Easier To Understand Use Trusted Professionals

In the spring, many excited buyers get ready to enter the housing market. Others continue dreaming about the homes they’d like to buy. The truth is, many potential buyers continue to dream longer

Read More

Buyer Demand Growing In Every Region

Buyers are hungry and aggressive for buying homes this fall, increasing the demand for home buying in all four regions of the country.According to the latest ShowingTime Showing,

Read More

This Is Not 2008 All Over Again The Mortgage Lending Factor

Some are afraid the real estate market may be looking a lot like it did before the housing crash in 2008. One of the factors they’re pointing at is the availability of mortgage money. Recent

Read More

The Cost Of Renting Vs Buying A Home INFOGRAPHIC

Some Highlights: Historically, the choice between renting and buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today

Read More