Interest Rates still at historic lows

In order to help steady the economy, the Feds took positive action which kept mortgage rates at historic lows. Many felt this would be a short term policy, and once stopped, would result in rates returning to previous averages of 6 to 7%.

Yet the government has continued to hold up lower rates with hopes of promoting a recovery in the housing market. The 30 year fixed rate mortgage stays low at around 4%.  Rates seemingly continue to fall into early 2012.

The reduced rates along with remarkable prices have had a great impact on home affordability bringing more buyers into the market.

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