Lower Rates Help Sell Houses

December 30, 2008 By

Fixed-rate home mortgage rates fell again! The 30-year fixed-rate mortgage has set another record low, according to a weekly survey by Freddie Mac. The 30-year rate averaged 5.14% for the week ended Dec. 24, 2008. Reducing rates by about one percentage point effectively lowers home prices for buyers by roughly 10%, according to Lawrence Yun, chief economist for the National Association of … [Read more...]

Filed Under: Buying a Home, Selling A Home Tagged With:

4.5% Mortgages Rates in Tampa?

December 8, 2008 By

Tampa home buyers and sellers are all talking about the Treasury Department's proposal to reduce mortgage rates to 4.5 percent, roughly 1 percentage point lower than current rates, in an attempt to revive the housing market. The Milstein/Hubbard plan is designed to entice up to 1.5 million buyers to enter the housing market and reduce the surplus of available homes. The proposal would apply only … [Read more...]

Filed Under: Buying a Home, Selling A Home