I know there has been a lot of negative real estate news this week, but dont lose one important piece of information in the mix - mortgage rates hit record lows this week!
Here is the quote "Mortgage rates fell to the lowest level in decades for the ninth time in 10 weeks as concerns grow that the economy is weakening.
Mortgage buyer Freddie Mac said Thursday that the average rate for a 30-year fixed loan was 4.36 percent this week, down from 4.42 percent last week. That's the lowest since Freddie Mac began tracking rates in 1971.
The average rate on 15-year fixed loan dropped to 3.86 percent from 3.90 percent the previous week. That's the lowest on records starting in 1991."
Look for a mortgage? Contact your lender, or JD Scott at Monarch Morgage!


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