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Window Of Opportunity - Mortgage Rates Drop Again

Posted by Breckenridge Associates Real Estate on Thursday, August 9th, 2012 at 10:20am.

Mortgage rates on a 30-year fixed mortgage hit another low this month, dropping to 3.53% from 3.56% according to Freddie Mac. The Federal Reserve is continuing to aggressively push rates down. This was the 12th time in 13 weeks that a new record was set. These numbers are according to a Freddie Mac survey of what lenders are offering to well-qualified buyers.

A 15-year fixed rate loan averaged 2.83% and was down from 2.86%, also a new record. The typical start rate on a five-year hybrid loan, which is a fixed rate until it turns adjustable in year six, was at a record low level also, averaging 2.69% down from 2.74%.

Buyers, low pricing and low mortgage rates are in your favor, and this is perfect combination to allow you to buy into the market with confidence. Sellers, transactions are the highest since 2008, but your list price needs to be right for Buyers to consider your property. 

Whether buying or selling in Summit or Park County, let our local team of real estate experts go to work for you. Contact your Home Town Team for specific details on ski-in/ski-out condos, cabins in the woods and luxury mountain estates in Breckenridge, Summit County and Park County. 

Please contact your broker at Breckenridge Associates Real Estate to learn more about the incredible opportunities available today in Breckenridge and Summit County, Colorado. 800.774.7970 or 970.453.2200. Click here for the latest news about Breckenridge Real Estate.

Source: LATimes.com-July 19, 2012

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