Mortgage Rates Drop
Just recently, the news was released by Freddie Mac that the 30-year fixed mortgage rate has fallen to the lowest level in three months. The rate is averaging 3.6%, which is just a quarter point above all-time lows.
In the article found on www.builderonline.com, Sam Khater, Freddie Mac’s chief econimist, stated, “The very low rate environment has clearly had an impact on the housing market as both new construction and home sales have surged in response to the decline in rates, the rebound in the economy and improving financial market sentiment.”
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