Mortgage Rates Drop Dramatically

In an unforeseen dramatic day in the mortgage markets, rates have dropped significantly, without any certain cause, other than massive trading by investors. 

The average 30 year rate is now down to 4.35% on 30-year fixed loans (down from about 4.5%). This represents an average savings of $150 per month on a 30-year loan payment for a purchase of $400,000. If you are on the fence, today or tomorrow morning are great times to lock a rate in on your mortgage loan.

As always, if you or someone you know is considering buying or selling property, please call right away. Your referrals are greatly appreciated!

Ann Nagel, Broker Associate/Realtor

If you, or someone you know is interested in buying or selling property, please call right away!