Mortgage Rates Drop Again!

Incredibly, mortgage rates have fallen again which is excellent news for buyers. Check out the stats from Barron’s website!

“Thanks again to falling Treasury rates, the average 30-year fixed-rate mortgage rate fell for a third straight week, this time to 3.41% in the week ended today from 3.43% a week ago, according to Freddie Mac‘s (FMCC) latest Primary Mortgage Market Survey, closing in again on the 3.31% all-time low seen last November. Prior to last week, the 30-year rate had been stuck in a range between 3.51% and 3.63% for more than two months. A year ago the same rate averaged 3.90%. The average 15-year fixed-rate mortgage rate also fell slightly, to 2.64% from 2.65% a week ago and 3.13% a year ago. It’s now back within one basis point of its all-time low 2.63% seen in November.”

Buyers should start getting their options now while rates are so amazingly low because long term, they’re only expected to rise. Speak with a knowledgeable local realtor, contact a mortgage broker, and get informed. It doesn’t hurt to know what’s available!

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Rahul and Smitha Ramchandani are a licensed real estate Broker-Salesperson/Sales Representative Team with Keller Williams in New Jersey. They are Buyer Specialists and a Home Marketing Experts. You can reach Smitha and Rahul and their team online at: http://www.Morris-Homes.com, http://www.SRRealEstateGroup.com, and http://www.TheTownhouseExpert.com.

Their team specialize in North Central New Jersey including towns such as Boonton, Chatham, Chester, Convent Station,Denville, East Hanover,Florham Park, Hanover, Harding Twp., Mendham, Montville, Morristown, Morris Plains,Morris Twp., Mountain Lakes, Parsippany, Randolph,Rockaway, Whippany