What’s the Latest on Interest Rates?

Mike Eastwood CEO of West USA Realty of Prescott talks about Mortgage rates have fallen by over a full percentage point since Q4 of 2018, settling at near-historic lows. This is big news for buyers looking to get more for there money in the current housing market.According to Freddie Mac’s Primary Mortgage Market Survey,

“the 30-year fixed-rate mortgage (FRM) rate averaged 3.60 percent, the lowest it has been since November 2016.”

Sam Khater, Chief Economist at Freddie Mac, notes how this is great news for homebuyers. He states,

“…consumer sentiment remains buoyed by a strong labor market and low rates that will continue to drive home sales into the fall.”

As a potential buyer, the best thing you can do is work with a trusted advisor who can help you keep a close eye on how the market is changing. Relying on current expert advice is more important than ever when it comes to making a confident and informed decision for you and your family.

Bottom Line

Even a small increase (or decrease) in interest rates can impact your monthly housing cost. If buying a home is on your shortlist of goals to achieve, reach out to Mike Eastwood CEO of West USA Realty of Prescott at 928-777-8331 or visit us at www.westusaofprescott.com and Mike will introduce to one of his real estate professional to determine your best move.