Mortgage Rates Have Dropped to Record Lows
Good news on for home buyers! Mortgage rates fell to a record low for the fourth time in five weeks. The average rate for 30-year fixed loans this week was 4.56 percent, down from 4.57 last week. That’s the lowest interest rate new home buyers have seen since since Freddie Mac began tracking rates in 1971. The last time home loan rates were lower was during the 1950s, when most mortgages lasted just 20 or 25 years. The rate on the 15-year fixed loan dropped to 4.03 percent, down from 4.06 percent last week and the lowest on records dating back to 1991. And there’s more good news for the Jacksonville and Ponte Vedra Beach real estate markets—home sales are up!!! Prudential Network Realty has seen a big increase in sales this year.
Home Sale Comparison for January - June 2009 vs. the same months in 2010
Number of Sold Homes: 2009—5,321 vs 2010—6,690 +25.7 % (Over 1,300 More Sales)
Closed Sales Volume: 2009—$978,990,169 vs 2010—$1,188,395,825 +21.4% (Every Month Improving!)
What Others Are Saying
Currently there are no comments. Feel free to add yours below.
Add Your Thoughts