Rates on 30-year mortgages inched downward again this week, remaining below 5 percent for the tenth-consecutive week and just above record lows.
Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dipped slightly to 4.82 percent this week, down from an average of 4.86 percent last week.
The question fence-sitting buyers must ask themselves is "How long will they stay down and should I act now?" We recently wrote about the 'gamble' one makes by waiting and waiting to buy. With prices super low on houses coupled with low interest rates I don't know if it will or even CAN get any better.
Anyone even "thinking" about buying before the end of November in order to take advantage of the up to $8000 Tax Stimulus really should start looking NOW. With more and more buyers coming back into the market and moving into a healthy summer real estate season, prices and rates could well start to climb again by mid-summer.
Let us help by answering any/all of your questions and more. Go to our website for more info and to search the MLS for available listings. www.BestHomesInJacksonville.com
Timothy H. Fennell, P.A.
Susan A. Fennell, P.A.
Broker Associates / REALTORS
www.BestHomesInJacksonville.com
