As if you needed yet another reason to jump into the Scottsdale real estate market, mortgage rates dropped yet again. The rate for a 30-year fixed mortgage touched its record low this week and the rate on 15-year mortgage hit a new record. The average rate on the 30-year loan declined to 3.49%. The average on the 15-year fixed mortgage, a popular refinancing option, plunged to 2.77%, a new record.
The declines were the result of an announcement by the Federal Reserve that it would buy bonds to push mortgage rates lower and stimulate the housing market. Add these new low rates to the interest deduction on your income taxes and it is an even better deal.
Call me at (602) 791-0536 to schedule an appointment to see any Scottsdale homes for sale.
Carmen Brodeur JD
Trillium Properties, LLC
9825 E Bell Road, Suite 120, Scottsdale AZ 85260