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Interest Rates Lowest They’ve Been in Weeks

Mortgage News > Interest Rates Lowest They’ve Been in Weeks
Date: 05/02/2011    Interest Rates Lowest They’ve Been in Weeks

Interest rates dropped lower than they have been in 6 weeks on Friday reaching below 4% on a 15 year fixed mortgage ending at 3.97%. Freddie Mac also reported rates dropped just below 5% closing at 4.78% for a 30 year fixed mortgage.

Home sales remain slow as home values continue to decline dropping nearly 3%since 2010. Home owners and potential buyers alike may be hesitant to make a move in the housing game due to the fact the foreclosures are still playing a huge role in the housing market driving home prices to their lowest levels in years.

 

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