Mortgage Rate Dip Gives Home Buyers More Good News
Mortgage interest rates receded again last week, providing more good news for families who are pursuing home buying opportunities in today’s buyers market.
Materials put at the disposal of NAHB members last week, “It’s a Great Time to Buy,” emphasize that home buyers have greater opportunities today than they have had for several years, with prices leveling off, mortgage interest rates remaining near their historic lows and a relatively strong economy continuing to create job and income growth.
According to Freddie Mac's Primary Mortgage Survey, mortgage rates for the week ending on Thursday, Nov. 2 reversed a short-lived upward turn. The 30-year fixed-rate mortgage averaged 6.31%, down from an average of 6.40% during the previous week, bringing them to the same level they were exactly a year earlier.